Tron Foundation and SEC announced a case suspension to discuss a possible settlement.
Reasons for the Suspension
The Tron Foundation and SEC approached the Southern District of New York court with a request to suspend proceedings to explore a resolution. Representatives from both sides stated that this is in the interest of all parties and the public. In a letter to Judge Ramos, they proposed submitting a status report in 60 days.
Market Reaction
After the announcement of the suspension, the price of Tron (TRX) reacted positively, indicating market confidence in a potential amicable resolution.
Case History
In March 2023, the SEC filed a lawsuit against Justin Sun and his companies: Tron Foundation, BitTorrent Foundation, and Rainberry. They are accused of schemes to distribute billions of dollars in crypto assets.
Negotiations between Tron Foundation and the SEC could lead to a peaceful resolution, positively impacting the Tron market.
