{"id":28583,"date":"2024-04-02T21:57:45","date_gmt":"2024-04-02T21:57:45","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/tron-foundation-and-justin-sun-claim-sec-lack-jurisdiction-over-foreign-defendants\/"},"modified":"2024-04-02T21:57:45","modified_gmt":"2024-04-02T21:57:45","slug":"tron-foundation-and-justin-sun-claim-sec-lack-jurisdiction-over-foreign-defendants","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/tron-foundation-and-justin-sun-claim-sec-lack-jurisdiction-over-foreign-defendants\/","title":{"rendered":"TRON Foundation and Justin Sun claim SEC lack jurisdiction over foreign defendants"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Alt Coin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/05\/1650909085368-7c7e2246-4d68-437b-86e7-b93f31fb53cc-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/05\/1650909085368-7c7e2246-4d68-437b-86e7-b93f31fb53cc-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/05\/1650909085368-7c7e2246-4d68-437b-86e7-b93f31fb53cc-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/05\/1650909085368-7c7e2246-4d68-437b-86e7-b93f31fb53cc-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>TRON Foundation and Justin Sun lead other co-accused to challenge SEC\u2019s jurisdiction in lawsuit.<\/li>\n<li>The defendants argue SEC lacks authority over foreign conduct and they seek dismissal.<\/li>\n<li>The defendants have filed a motion invoking the major questions doctrine.<\/li>\n<\/ul>\n<p>The TRON Foundation, led by founder Justin Sun, <a href=\"https:\/\/storage.courtlistener.com\/recap\/gov.uscourts.nysd.596044\/gov.uscourts.nysd.596044.55.0.pdf\">has filed a motion<\/a> to dismiss a lawsuit brought by the U.S. Securities and Exchange Commission (SEC).<\/p>\n<p>In the motion, the defendants argue that SEC\u2019s attempt to extend U.S. securities laws to predominantly foreign conduct lacks legal grounds. They emphasize that SEC\u2019s regulatory reach does not extend worldwide, especially concerning activities conducted outside the United States.<\/p>\n<p>The defendants, including TRON Foundation, <a href=\"https:\/\/coinjournal.net\/tron\/what-is-tron\/\">Tron<\/a> founder Justin Sun, BitTorrent Foundation, and Rainberry, assert that the SEC\u2019s claims lack merit and should be dismissed.<\/p>\n<p>Despite Rainberry\u2019s California registration, the defendants argue that the SEC\u2019s pursuit of claims lacks fair notice and raises concerns about regulatory overreach. Rainberry, while not contesting the court\u2019s jurisdiction, seeks dismissal on grounds unrelated to jurisdiction, highlighting the lack of specificity in the SEC\u2019s allegations.<\/p>\n<h2>Invoking the major questions doctrine<\/h2>\n<p>Furthermore, the defendants invoke the major questions doctrine to challenge the SEC\u2019s regulatory authority in the digital asset market. They argue that the SEC\u2019s expansive regulatory actions lack clear congressional authorization, thereby warranting dismissal of the case.<\/p>\n<p>This legal precedent, aimed at curbing government overreach, underscores the defendants\u2019 concerns regarding the SEC\u2019s regulatory overreach and its implications for the global digital asset market.<\/p>\n<p>The motion to dismiss the lawsuit highlights the defendants\u2019 stance against the SEC\u2019s allegations of selling and airdropping unregistered securities, fraud, and market manipulation. The TRON Foundation and Justin Sun maintain that the SEC\u2019s claims fail to demonstrate jurisdiction and raise broader questions about regulatory authority and fair notice in the evolving landscape of digital assets and blockchain technology.<\/p>\n<p>By challenging the SEC\u2019s jurisdiction and regulatory authority, the TRON Foundation and Justin Sun signal a broader debate surrounding the global reach of securities laws and the evolving regulatory framework for digital assets.<\/p>\n<p>With the outcome of the lawsuit poised to impact the regulatory landscape for digital assets, stakeholders await further developments in this high-profile case.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/tron-foundation-and-justin-sun-claim-sec-lack-jurisdiction-over-foreign-defendants\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Alt Coin News and Cryptocurrency Comparison ) TRON Foundation and Justin Sun lead other co-accused to challenge SEC\u2019s jurisdiction in lawsuit. The defendants argue SEC lacks authority over foreign conduct and they seek dismissal. The defendants have filed a motion invoking the major questions doctrine. The TRON [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":28584,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/28583"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=28583"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/28583\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/28584"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=28583"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=28583"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=28583"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}