In March 2023, the SEC decided to sue Justin Sun and his crypto companies (Tron, Rainberry and BitTorrent) for fraud and violations of securities law. Since then, things have evolved: especially when judge Analysa Torres granted a partial victory at Ripple in the case opposing him to the cryptocurrency regulator. The judge in charge of the SEC vs. Sun case would have taken this decision into account to the point of extending the time limit for Tron’s defense. Decryption!
Judge grants leeway for Justin Sun and his crypto businesses
The war waged by the SEC against the crypto industry seems to be changing. The judges are indeed beginning to understand the challenges of cryptocurrencies to the point of forcing the American regulator to negotiate with its adversaries. The case of Binance perfectly describes this new orientation.
“ In the SEC’s lawsuit against Justin Sun and his company for manipulating TRX, the judge approved a extension of the defense periodextending the deadline until December 8, 2023 to ‘explore possible resolution of the SEC’s claims against defendants prior to motion practice.’ »
L’article from Bitcoin.com attached to this tweet highlights a legal agreement authorizing an extension of the defense deadline for Justin Sun and his crypto company Rainberry. Thus, for a balance of power, judge Edgardo Ramos decided to grant 76 additional days to the lawyers of the entrepreneur and his crypto-enterprises.
Thus, the latter will be able to “ explore possible resolution of the SEC’s claims against Defendants prior to motion practice.”
The move follows a court order dated September 14 in which Sun and his legal team requested relief. The said document brought forward the date of December 8, 2023 for the resumption of the case against the SEC. Thus, Judge Ramos did not hesitate to agree by affirming that the “ extension is justified “.
When will the SEC’s anti-crypto war end?
The way things are going, Gary Gensler’s Securities and Exchange Commission would be the most active regulator of digital assets in the United States. Qualified by CZ of Binanceabuse of powerthe SEC’s legal actions will in no way help the situation of crypto exchanges and cryptocurrencies in general.
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