According to the latest judicial file, the founder of the SEC and Tron Justin Sun asked for a suspension order in their civil fraud trial.
The two parties would have explored a resolution or a regulation, which would ultimately see the rejected trial.
Dry against Justin Sun Battle The Battle is about to end
During last week, the SEC abandoned several prosecution and legal actions against cryptographic companies. In particular, the commission ended its trial against Coinbase and ended its investigation into Uniswap and Robinhood.
Now, the Federal Agency seeks to settle one of its greatest proceedings against the founder of Tron Justin Sun.
The last judicial file stressed that the two parties asked for a suspension order from the South District Court of New York. A suspension order would temporarily stop or suspend any other procedure in a case.
Current events suggest that the Commission will enter into a settlement with Sun. This could lead to certain penalties for the founder of Tron, but more details are still under the Wraps.
In March 2023, the SEC filed accusations against Justin Sun and his societies – Tron Foundation Limited, Bittorrent Foundation Ltd. and Rainberry Inc. (formerly Bittorrent).
The SEC allegedly alleged that Sun and its entities were engaged in the unregistered offer and the sale of titles of cryptographic assets, in particular Tronix (TRX) and Bittorrent (BTT).
In addition, the SEC has accused the Sun of orchestrating a diet to manipulate the secondary market of TRX thanks to an in -depth washing exchange.
In particular, the trial said that Sun paid celebrities to promote TRX and BTT without disclosing their compensation, violating the securities laws.
In response to these allegations, Sun’s legal team argued that the SEC did not compete, saying that the activities in question were carried out outside the United States.
However, in April 2024, the SEC modified its complaint, providing evidence that Sun had important links with the United States.
More recently, in October 2024, the American district court rejected a request for rejection of a collective appeal brought by TRX investors.
Overall, it seems that the dry is ready to put these measures to apply the law, because it loosen its grip on the cryptography industry.
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