SEC Moves to Settle Fraud Case Against Tron Founder Justin Sun
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The SEC proposed settling its fraud case against Justin Sun, requiring Rainberry Inc. to pay a $10 million penalty. In return, all claims against Sun and the Tron and BitTorrent foundations will be dismissed, indicating a positive resolution for the parties involved.
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- The SEC moved to resolve its 2023 fraud case against Tron founder Justin Sun.
- A proposed settlement requires Rainberry Inc. to pay a $10 million penalty.
- Regulators will dismiss all claims against Sun, the Tron Foundation, and the BitTorrent Foundation.
The US Securities and Exchange Commission (SEC) moved to end its civil fraud case against crypto entrepreneur Justin Sun.
A proposed settlement filed in federal court in New York shows that Rainberry Inc., the company tied to the BitTorrent protocol and associated with Sun’s Tron network, will pay a $10 million civil penalty.
The firm will also accept an injunction barring it from engaging in deceptive conduct in securities offerings.
In exchange, the SEC will dismiss the remaining claims against Sun and his affiliated entities, including the Tron Foundation and BitTorrent Foundation. The dismissal would be …
Read The Full Article SEC Moves to Settle Fraud Case Against Tron Founder Justin Sun On Coin Edition.
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