The lawyers representing the founder of the United States of the SEC and Tron, Justin Sun, officially submitted a request to suspend the current legal battle. The sixty -day break will allow the parties to explore the payment options.
Main to remember
- Justin Sun’s legal team joined the SEC by jointly requesting a 60 -day judgment from the legal competition when they consider the payment options.
- The sun is fighting against the accumulated accumulated accumulated in March 2023, alleging the washing trading and the offers of unregistered titles of BTT and TRX tokens.
- The two parties argued that the break in the current legal battle will retain legal resources, therefore beneficial for the public and the court.
- The joint request coincides with the court taking into account the request of Sun to reject the accusations.
- Pause development demand follows a change in the dry approach under the Trump administration, with several cases related to the crypto.
The cryptographic entrepreneur Justin Sun is considering a break from the current legal proceedings in a joint request from the Securities and Exchange Commission (SEC) of the United States.
The parties submitted their request on February 26 requesting a suspension of 60 days to the judge of the district court of New York Edgardo Ramos. The joint request aims to give time so that the parties explore potential regulations. This would allow them to treat differences without further dispute.
Submission by lawyers representing the two parties reaffirmed the suspension of mutual benefits. This would save judicial resources and satisfy the public interest.
Despite the submission, judge Ramos has not yet ruled on the request. This emerged while the court weighed Sun’s request to reject the case when the new deposit of the parties.
Legal battle
Justin Sun has been involved in a legal battle with the American sec since March 2023, when the regulatory agency alleged that the entrepreneur and the affiliated entities have carried out offers of non -registered securities. In addition to the Tron Foundation, the other entities mentioned include Rainberry Inc. and Bittorrent Foundation.
The SEC allegedly alleged that the entities had participated in the unregistered sale of Tron (TRX) and Bittorrent (BTT) tokens.
In addition, the SEC said that the sun has made a washing exchange through falsified purchase and the sale of assets to illustrate a higher market activity. The agency argued that Sun had taken advantage of the Wash trading to ignite the volume of TRX trading, thus indicating active token participation on the market.
Let’s talk about celebrities
The complaint of the Commission extends to the involvement of celebrity mentions. The dry alleys of celebrities compensated by Sun for the promotion of TRX and BTT tokens without explicit disclosure.
The celebrities mentioned in the Sun affair include rapper Soulja Boy and actress Lindsay Lohan. The agency claims to have promoted the two tokens without informing the target audience that they were won of these endorsements.
A certain number of celebrities have settled with the dry via a payment of fines, although they have not recognized the reprehensible acts.
Donald Trump policy
The joint request to suspend the procedure appeared while the SEC seems to transfer its approach to the regulations on digital assets. The change of policy has been obvious since President Donald Trump’s return to the White House.
Most changes took place after Gary Gensler left the dry on January 20. Dump has already settled Mark Uyeda as an acting president, and they are waiting for the confirmation of Paul Atkins at the head of the dry. The agency has so far abandoned the accusations against Robinhood, Opensea and Uniswap.
The game changer started with Crypto Exchange Coinbase indicating the principle of the assault of the dry to end the trial. The exchange said the previous week that the decision was awaiting the approval of the commissioners.
Developments raise concerns because Justin Sun recently acquired $ 70 million in World Liberty Financial (WLFI) tokens. The decentralized financial protocol is affiliated with President Donald Trump.
The head of investors’ protection of the Federation of Consumers of America, Corey Frayer, is interested in the disturbing politicization of the SEC, which seems to benefit the sales partners of Donald Trump.
The legal teams illustrated in their deposits according to which a decision to request a break would not compromise the rights of the parties. They revealed plans to publish a joint situation report within 60 days of updating progress. At the time of the press, the parties have not yet finalized the agreement, and it is not certain that Sun recognizes the reprehensible acts in order to resolve it.
