According to Foresight News, Tron requested that the U.S. Securities and Exchange Commission (SEC) lawsuit be dismissed, saying that it had no authority to govern “digital assets sold to foreign users on global platforms.” Tron stated that the sales of the tokens were "entirely overseas" and that the measures were taken to avoid the U.S. market. The SEC did not accuse them of "initially offering or selling to any U.S. residents" and did not identify any victims.
Foresight News previously reported that the U.S. SEC issued an electronic subpoena to Justin Sun, the Tron Foundation, the BitTorrent Foundation, and BitTorrent in March last year, accusing them of illegal sales of unregistered securities, fraud, and market manipulation.
