Tron Foundation founder Justin Sun faces SEC complaint

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Tron Foundation founder Justin Sun faces SEC complaint

Justin Sun, founder of the Tron Foundation, said he was allegedly engaged in manipulative trading and unlawful promotion of criptocurrency asset securities in response to a Securities and Exchange Commission complaint. What Happened: Sun said in a statement on Wednesday that the SEC has taken a civil complaint against well-known players in the space and in the virtual currency. He said that we believe that the complaint lacks merit. In a court filing on Wednesday, the SEC named Sun, the Tron Foundation and the BitTorrent Foundation, as well as Rainberry, in connection with the offer and sale of Tron TRX USD and BitTorrent BTT USD.

The SEC also alleged that Sun had engaged in manipulative wash trading practices using celebrities to drive public interest in the token.

See More: Top Indian Apps that give NFT Rewards and Bitcoins.

Sun defended himself by citing the example of Dominica, who recently adopted TRX and BTT as legal tender. He said that the SEC's regulatory framework for digital assets is still in its infancy and needs further development.

The last 24 hours, the last 24 hours, the price action for the price was down 9.60%, according to Benzinga Pro.