TRON, Justin Sun, and Rainberry are currently involved in a legal battle with the US Securities and Exchange Commission over accusations of selling unregistered securities during their 2017 TRX token Initial Coin Offering. They argue that the SEC's claims are baseless and highlight that their digital assets were promoted globally, questioning the SEC's jurisdiction beyond the US. This dispute dates back to March 2023 when the SEC accused TRON and Sun of illegal securities sales. In 2023, the SEC took 46 enforcement actions against various cryptocurrencies, reflecting a surge in regulatory measures. This legal clash underscores the clash between evolving digital asset technologies and the SEC's traditional regulatory approaches, underscoring the necessity for clearer regulations in the crypto industry.