Tron founder Justin Sun says SEC complaint lacks merit

Tron (TRX) laminitis Justin Sun said the U.S. Securities and Exchange Commission (SEC) charges against him lacked merit.

In a March 23 Twitter thread, Sun said the fiscal regulator’s complaints were “the latest illustration of actions it has taken against well-known players successful the blockchain and crypto space.”

He continued that the SEC’s regulatory model was inactive successful its “infancy and needed further development.” According to him, helium is committed to moving with regulatory bodies providing “transparent guidelines” for the nascent crypto industry.

Several crypto stakeholders had antecedently accused the fiscal regulator of cozying up with malicious players portion going aft the bully players. Several assemblage members person highlighted the commission’s nonaccomplishment to place the FTX fraud.

Sun added:

“We are anxious to collaborate with governments and regulatory bodies globally that are dedicated to establishing transparent guidelines for regulating and moving with the cryptocurrency manufacture fixed the important relation it tin play.”

Meanwhile, Sun suggested that the SEC’s assertion that TRX and BitTorrent (BTT) income constituted unregistered securities offerings was false. According to him, these assets were precocious adopted arsenic ineligible tender successful Dominica.

On March 22, the SEC filed lawsuits against Sun and his companies, alleging they were engaged successful fraud done lavation trading. The fiscal regulator besides alleged that Sun and his companies paid respective celebrities to beforehand the tokens without disclosure.

Following the news, BTT and TRX dumped by 1.67% and 7.62% to $0.00000061 and $0.06204, respectively successful the past 24 hours, according to CryptoSlate data.

The station Tron laminitis Justin Sun says SEC ailment lacks merit appeared archetypal connected CryptoSlate.