Justin Sun lashed back at the SEC, claiming the regulator’s charges are unfounded. Sun believes the SEC’s regulatory framework for crypto is in its infancy and needs improvement.

Sun also said he would be prepared to engage with regulatory authorities throughout the globe to develop open standards for dealing with and regulating the cryptocurrency business.

The SEC’s allegation, filed in the US District Court for the Southern District of New York, claims that Sun and his businesses sold TRX and BTT as investment opportunities through multiple unlicensed “bounty programs.” The latest allegedly required participants to advertise the tokens on social media, enlist and recruit others around Tron-affiliated Telegram and Discord channels, and establish BitTorrent accounts in return for token distributions.

The lawsuit claims that Justin Sun, BitTorrent Foundation, and Rainberry so

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Author: Brenda Mary

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