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In a significant development, the SEC and Tron founder Justin Sun are moving towards settling their ongoing civil fraud lawsuit that centers on crypto asset regulations.
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This legal battle follows accusations of unregistered sales and market manipulation, placing Sun under intense regulatory scrutiny.
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“We are in discussions for a resolution,” stated Sun’s legal representative, indicating a possible collaborative effort to resolve the claims efficiently.
The SEC is reportedly nearing a settlement with Justin Sun over alleged fraud concerning TRX and BTT sales, signaling a shift in regulatory strategy.
SEC vs. Justin Sun Legal Battle Is About to End
Over the past week, the SEC has dropped several lawsuits and legal actions against crypto firms. Most notably, the commission has ended its lawsuit against Coinbase and concluded investigations into Uniswap and Robinhood.
Now, the federal agency is looking to settle one of its biggest lawsuits against Tron Founder Justin Sun.
The latest court filing highlighted that both parties have requested a stay order from the Southern District Court of New York. A stay order would temporarily halt or suspend any further proceedings in this case.
The current events suggest that the commission will enter a settlement with Sun. This might incur some penalties for the Tron Founder, but more details are still under wraps.