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Tron (TRX) founder Justin Sun said the US Securities and Exchange Commission (SEC) charges against him are baseless.
In a March 23 Twitter thread, Sun Said The financial regulator’s complaint was “the latest example of action taken against a high-profile player in the blockchain and crypto space.”
He continued that the SEC’s regulatory framework is still “in its infancy and needs further development.” According to him, he is committed to working with regulators to provide “transparent guidelines” for the nascent crypto industry.
Several cryptocurrency insiders have previously accused financial regulators of chasing good players while befriending bad players. Several community members have stressed that the commission was unable to identify his FTX scam.
Sun added:
“Given the important role the cryptocurrency industry can play, we are dedicated to establishing transparent guidelines for regulating the cryptocurrency industry and cooperating with governments and regulators around the world. We would like to work with the institution.”
Meanwhile, Sun has suggested that the SEC’s claim that the sale of TRX and BitTorrent (BTT) constitutes an unregistered securities offering is false. According to him, these assets have recently been adopted as legal tender in Dominica.
On March 22nd, the SEC filed a lawsuit against Sun and his company. Financial regulators also alleged that Sun and his company paid several celebrities to promote their tokens without disclosing them.
Following the news, BTT and TRX fell into the $ at 1.67% and 7.62%.$0.00000061 and $0.06204 respectively in the last 24 hours, according to crypto slate data.
