In a Twitter thread posted on March 23, Tron founder Justin Sun has dismissed the recent charges made against him by the US Securities and Exchange Commission (SEC) as lacking merit.
Sun also said that the charges were the latest example of the regulator going after reputable companies in the blockchain and crypto sector, while ignoring fraudulent players. He added that the regulatory framework for crypto was still in its infancy and needed further development, but he was committed to working with regulators to provide transparent guidelines for the industry.
In addition, Justin Sun expressed his willingness to collaborate with regulatory bodies in establishing transparent guidelines for regulating and working with the cryptocurrency industry. This is a clear indication that the TRON founder is committed to promoting the adoption of digital currencies worldwide and spreading the benefits of cryptocurrencies.
Sun has denied the SEC’s accusation that Tron and BitTorrent (BTT) were unregistered securities. It should be noted that the SEC had previously made this accusation. However, it is worth mentioning that both digital assets have already been recognized as legal tender in Dominica.
Sun denied the allegation that Tron and BitTorrent were unregistered securities the day after the SEC filed a lawsuit against him and his companies. Sun’s companies were accused in the lawsuit of engaging in fraudulent activity through wash trade, as well as paying celebrities to promote tokens without proper disclosure. Notably, both Tron and BitTorrent are now legal tender in Dominica.
