The US Securities and Exchange Commission (SEC) and Tron founder Justin Sun are in settlement talks to resolve their fraud case. Both parties have asked the court to temporarily suspend the case.
What Happened in the Case?
In March 2023, the SEC filed a lawsuit against Justin Sun for selling unregistered securities and manipulating the market via Tron (TRX) and BitTorrent (BTT) tokens. Sun was accused of creating fake trading volume and using famous names to illegally promote TRX. During this process, names such as Lindsay Lohan and Jake Paul were also investigated by the SEC for alleged illegal promotions.
Settlement Process Has Started
According to recent developments, talks between the SEC and Sun are progressing positively. The parties have filed a joint application with the court to suspend the case. This situation most likely indicates that a settlement agreement is on the way. There are allegations that Sun is trying to close the case by paying a financial penalty.
SEC's Softening Attitude
This development is interpreted as a new sign that the SEC is softening its tough stance against the cryptocurrency sector. The SEC recently concluded its investigation into the Gemini exchange. If a similar result is reached in the Justin Sun case, this could create a positive atmosphere regarding regulations in the crypto world.
Market Effects
The possibility of a settlement with the SEC could have a positive impact on the Tron (TRX) price in the short term. In addition, the SEC's more conciliatory approach to crypto regulations could be a comforting development for other companies in the sector. However, the details of the possible fines and settlement terms that Justin Sun will pay will be decisive for TRX and other crypto assets.
As a result, these talks between the SEC and Justin Sun could be a critical turning point for crypto markets. While the softening attitude of the regulators creates less uncertainty in the market, Sun's decision to compromise could increase confidence in the Tron ecosystem.
Author: Besim Şen
