The US Securities and Exchange Commission (SEC) pauses its civil case against Justin Sun, the billionaire founder of Tron (TRX).
According to recent court applications, Sun and the regulatory authority jointly asked a federal judge whether they could move to stay [the] Case to enable the parties to explore a possible resolution. “
Says the request,
“In this case, the parties argue that it is interested in each of their interest to stay this issue, while considering a possible resolution and agree that no party or non-party would be biased by a stay.
Furthermore, a residence in the interest of the court and the interests of the public is because a resolution would converse legal resources by transferring the need for the court to resolve the pending the complaint of the defendants. A proposed stay interferes with the court without current deadlines. “
District judge Edgardo Ramos of the United States granted the application a day later, according to the documents.
In 2023, Sun – who invested millions of dollars in the decentralized financial financial financial financial financial financial financial financial financial financial financial financial financial financial financial financial financial financial financial financial financial financial financial financial financial financial financial financial financial financial financial financial financial financial financial financial finances were accused of fraud, not -registered effects and manipulating the price of the digital assets TRX through washing trade.
Last April, the Tron Foundation submitted a motion to reject the case and said that the SEC has no jurisdiction to regulate foreign transactions and investments.
As mentioned in the motion by the lawyers who represent Tron at the time,
“The SEC is not a global regulator. His efforts to make great weakened contacts to the United States, to expand the American laws of securities to cover predominantly foreign behavior, to go too far and must be rejected. “
The SEC recently dropped other controversial matters against crypto companies, including Metamask Developer Consensys and the best American crypto exchange coinbase.
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