In a recent development, the Securities and Exchange Commission (SEC) renewed its complaint against Tron's creator, Justin Sun, and related organizations, alleging that they sold unregistered securities in the US.
Despite Sun's claim that the SEC lacks global power and focuses primarily on overseas operations, the regulatory body answers with evidence of Sun's strong presence and promotional activities within US borders.
Allegations include direct promotion, unregistered sales, and fraudulent behavior.
The SEC's position is supported by detailed records of Sun's trips to the US over several years. Notably, Sun spent more than 80 days in 2017, 120 days in 2018, and nearly half of 2019 in the United States, visiting prominent cities.
The fact that Rainberry, one of the organizations involved, accommodated Sun throughout his 2019 travels is especially noteworthy. This indicates a coordinated effort to develop a corporate foundation and execute operations in the US market.
The SEC hopes that by demonstrating Sun's considerable activities and time spent in the United States, it would be able to justify its jurisdiction and oversight over his and his companies' acts regarding the unregistered selling of TRX and BTT tokens.
