The U.S. Securities and Exchange Commission (SEC) and Tron founder Justin Sun have agreed to suspend litigation for 60 days to begin settlement negotiations.
Trump Administration’s Shift in Stance
Since Donald Trump took office, the SEC progressively halted or withdrew lawsuits against several crypto-related entities. During his campaign, Trump promised to ease regulations and make the U.S. the 'global capital of cryptocurrency.'
Charges Against Justin Sun
In March 2023, the SEC accused Justin Sun and three of his companies of illegally selling unregistered securities through TRX and BitTorrent (BTT) tokens. Sun filed a motion to dismiss, arguing the SEC lacked jurisdiction as the transactions were mostly conducted outside the U.S.
Sun's Investment in Trump's Project
Justin Sun became the largest investor in Donald Trump's crypto venture, World Liberty Financial (WLFI), with a $75 million investment. This might influence the case outcome as the Trump administration's regulatory stance shifts.
Changes in SEC policy and Justin Sun's investments in Trump's project could significantly affect the case, opening new avenues for resolution.
