SEC dismisses claims against Justin Sun and Tron Foundation, BitTorrent developer Rainberry agrees to pay $10M fine
The SEC dismissed charges against Justin Sun and Tron Foundation, while Rainberry agreed to a $10M fine.Summary
The U.S. Securities and Exchange Commission (SEC) has dismissed its 2023 charges against Tron founder Justin Sun, the Tron Foundation, and the BitTorrent Foundation, according to a Final Judgment entered by the U.S. District Court for the Southern District of New York. However, Rainberry (formerly BitTorrent Inc.), a Sun-related entity that developed the BitTorrent protocol and BTT token, was ordered to pay a $10 million civil penalty to the SEC. The defendants agreed to the terms without admitting or denying the SEC's previous allegations, which included unregistered securities sales of TRX and BTT, and fraudulent price manipulation. Rainberry also agreed never to engage in deceptive market practices for securities. This dismissal follows other recent instances where the SEC has dropped lawsuits against major crypto institutions.
(Source：The Block)