Justin Sun and SEC Request Stay in Ongoing Legal Proceedings
Justin Sun and the US Securities and Exchange Commission (SEC) have requested a stay in the regulatory proceedings against him. This joint filing aims to pause the case while they seek a potential resolution, asserting that it would not disadvantage any parties involved.
Key Points
- This request follows a similar pause for Binance and indicates a shift in the US regulatory climate for digital assets.
- The SEC has recently closed investigations into entities like Robinhood, Uniswap, and OpenSea.
- Coinbase announced the SEC agreed to drop its lawsuit pending commissioner approval.
- Justin Sun was sued in 2023 for allegedly offering unregistered securities through the Tron Foundation and BitTorrent Foundation.
- The absence of fraud charges in Sun's case has raised concerns about politicization within the SEC.
- Sun made a significant investment, purchasing over $70 million in World Liberty Financial tokens to support a DeFi project.
