Tron Foundation, the organization behind the Layer 1 blockchain network Tron, has requested the United States Securities and Exchange Commission (SEC) to dismiss a securities lawsuit against the platform. The motion filed by the Tron Foundation argues that the SEC does not have jurisdiction over foreign digital asset offerings made to foreign users on a global platform, especially when the firm is headquartered in Singapore.

The lawsuit filed by the SEC in March 2023 also targets the firm's CEO and founder, Justin Sun, as well as other related entities. The SEC alleges that Tron's TRX token and BitTorrent's BTT token are securities and accuses the defendants of executing the sales of unregistered securities offerings. Tron argues that its token sales were conducted entirely overseas and took measures to avoid the U.S. market.

Tron further contends that the SEC's claims lack evidence and fail to provide detailed factual allegations regarding the defendants' roles, relying on generalizations to support its claims. Tron invokes the major questions doctrine against the lawsuit, highlighting that legislative powers rest with Congress, not regulatory agencies. This argument has been previously utilized by Coinbase in its lawsuit against the SEC.

With Tron's formal request for dismissal submitted, the SEC is expected to respond in the near future.