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News Explorer — Tron Foundation Seeks Dismissal of SEC Lawsuit, Says Jurisdiction Doesn't Cover 'Predominantly Foreign Conduct'

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Apr 1, 10:48 am
Cointelegraph

Tron Foundation Seeks Dismissal of SEC Lawsuit, Says Jurisdiction Doesn't Cover 'Predominantly Foreign Conduct'

The Tron Foundation has filed a motion to dismiss the SEC lawsuit against it, arguing that the regulator's attempt to apply US security laws to "predominantly foreign conduct" goes "too far." The Tron Foundation claims that the tokens were sold "entirely overseas" and that steps were taken to avoid the US market. The foundation also argues that the SEC's claim of unregistered US securities is "tenuous at best."

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