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SEC Amends Complaint Against Justin Sun to Assert U.S. Jurisdiction

The SEC has updated its lawsuit against Tron founder Justin Sun, citing his extensive travel and business activities in the U.S. as evidence of jurisdiction.

Overview

  • The SEC alleges Justin Sun spent over 380 days in the U.S. from 2017 to 2019, which it argues establishes jurisdiction over him and his companies.
  • Sun's legal team contends that the SEC's claims are an overreach of its regulatory authority, arguing that the lawsuit should be dismissed.
  • The amended complaint details Sun's extensive promotional activities for the Tron ecosystem, including livestreams from the U.S. and public appearances.
  • The SEC accuses Sun of manipulating the secondary market for TRX through wash trading and paying celebrities to promote the tokens without disclosure.
  • Despite the ongoing legal challenges, Tron recently celebrated the release of 'The Tron Anthem' by Hans Zimmer, highlighting Sun's continued influence in the crypto space.