TechFlow reports that Tron has urged the U.S. Securities and Exchange Commission (SEC) to drop its lawsuit, arguing that the SEC is overreaching by pursuing regulatory actions against "predominantly foreign conduct."
Tron contends that its token sales were primarily directed at overseas markets, deliberately avoiding the U.S. market, and therefore U.S. securities laws should not apply.
The SEC has accused Justin Sun and Tron of illegally selling unregistered securities, alleging that Sun was involved in market manipulation and paid celebrities to promote the tokens. Tron has also stated that the SEC failed to provide specific evidence or clear allegations, and has requested the court to dismiss the case.
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