Sun Yuchen: The SEC has rejected all charges against Tron, looking forward to working with the SEC to establish guidelines for cryptocurrency.

On March 5th, local time, the founder of TRON blockchain, Sun Yuchen, announced that the U.S. Securities and Exchange Commission has taken action to dismiss all charges against him, TRON Foundation, and BitTorrent Foundation. Sun Yuchen expressed his expectation to collaborate with the SEC to jointly develop guidelines and regulations for the future development of cryptocurrencies. In March 2023, the SEC filed a lawsuit against Sun Yuchen and his companies in the Manhattan district court in New York, accusing him of selling unregistered Tronix tokens and another type of encrypted security, BitTorrent, and manipulatively controlling the secondary market for the platform's native token, Tronix. The SEC at the time claimed that Sun Yuchen attempted to artificially increase TRX trading volume through virtual trading schemes, conducting over 600,000 TRX virtual trades between two cryptocurrency trading platform accounts under his control.