Tron Foundation Seeks Dismissal of SEC Lawsuit, Argues U.S. Securities Laws Overreach on Global Stage

The Tron Foundation, responsible for the layer-1 blockchain Tron, has filed a motion with a New York federal court to dismiss a lawsuit brought by the United States Securities and Exchange Commission (SEC), contesting the regulator’s attempt to govern activities primarily outside the U.S. In a statement on March 28, Tron emphasized, “The SEC is not a worldwide regulator,” criticizing the SEC’s endeavors to enforce U.S. securities laws on actions that mainly occur abroad. In March of the previous year, the SEC launched legal action against Justin Sun, the founder of Tron, alongside the BitTorrent Foundation, and Rainberry Inc., its