Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: ABCbits on April 01, 2024, 12:27:44 PM
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Tron’s Parent Company Seeks Dismissal of SEC Lawsuit, Citing ‘Predominantly Foreign Conduct’
The entity behind the layer-1 blockchain Tron has requested the dismissal of a lawsuit filed by the United States Securities and Exchange Commission (SEC) against it, arguing that the regulator’s focus on “predominantly foreign conduct” goes beyond its jurisdiction.
In a dismissal motion (https://www.courtlistener.com/docket/67071330/55/securities-and-exchange-commission-v-sun/) filed on March 28 in a New York federal court, the Tron Foundation stated that the SEC’s attempt to apply US security laws to predominantly foreign activities exceeds the regulator’s authority as it is not a global regulatory body... Read more here (https://cryptonews.com/news/tron-seeks-dismissal-of-sec-lawsuit.htm).
This time, SEC got accused for going too far by Tron's parent company. I also notice SEC has been busy recently with how many legal news around SEC and cryptocurrency company. Your opinion is greatly appreciated.
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SEC has been taking strict actions against the whole crypto world. They are against crypto-currencies and the exchanges that allow trading of crypto-currencies. The main focus of SEC is to stop the growth of crypto-currencies, which we all know isn't possible for them.
I think Tron's parent company took a good action to support their project and I believe that in future SEC may face huge backlash if they continue their so-called anti-crypto policies.
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SEC has been taking strict actions against the whole crypto world. They are against crypto-currencies and the exchanges that allow trading of crypto-currencies. The main focus of SEC is to stop the growth of crypto-currencies, which we all know isn't possible for them.
Doesn't stop them for trying though and unfortunate their action probably delay cryptocurrency growth.
I think Tron's parent company took a good action to support their project and I believe that in future SEC may face huge backlash if they continue their so-called anti-crypto policies.
Aside from huge backlash, i believe they'll face more legal problem. Recently they already sanctioned by Utah district and i hope other government group consider similar thing.