The U.S. Securities and Exchange Commission (SEC) has reached a settlement with Justin Sun, the founder of Tron. As part of the agreement, Rainberry Inc., a company linked to Sun, will pay a $10 million fine.
This agreement resolves a three-year legal dispute that started when the SEC accused Sun and his companies of selling cryptocurrency investments to US investors without proper registration.
Why it matters:
- Under the settlement, Rainberry has been permanently prohibited from breaching Section 17(a)(3) of the Securities Act.
- Furthermore, the remaining claims against Rainberry will be dismissed with prejudice, which means the charges cannot be refiled.
- The resolution clears a major regulatory overhang on Tron (TRX) and BitTorrent (BTT) trading in US markets.
- Justin Sun is the founder of the Tron blockchain network. The SEC filed charges against Sun alongside three affiliated entities, Tron Foundation Limited, BitTorrent Foundation Ltd., and Rainberry Inc. (formerly BitTorrent).
- In a letter to a Manhattan federal court, the SEC moved to drop the claims against Sun, the Tron Foundation, and the BitTorrent Foundation. The settlement remains subject to the approval of the federal judge.
- Sun also confirmed the settlement on X. He expressed his eagerness to collaborate with the SEC in shaping future guidance and regulations for the cryptocurrency industry.
- The SEC originally filed the lawsuit in March 2023, alleging the unregistered sale of Tron (TRX) and BitTorrent (BTT) tokens.
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2026-03-06 07:21