It is reported that the speculation of Dogecoin by the famous cryptocurrency investor Justin Sun and his cryptocurrency exchange Tron has attracted the attention and investigation of the U.S. Securities and Exchange Commission (SEC).

The cause of the incident was that Justin Sun promoted Dogecoin on social media in April 2024 and called on fans to "go to the moon" together. Subsequently, the price of Dogecoin fluctuated sharply, which aroused investors' doubts and dissatisfaction.

The SEC said that it would investigate whether Justin Sun and Tron had violated laws and regulations such as market manipulation and publishing false information. If verified, they may face civil penalties or criminal charges.

This incident has caused widespread controversy in the cryptocurrency community. Supporters believe that Justin Sun is just exercising freedom of speech and has not violated the law; opponents accuse him of hyping the price of the currency and misleading investors.

Industry insiders pointed out that this incident reflects the urgent need for cryptocurrency regulation. At present, there is still a large gray area in the cryptocurrency market, which is prone to illegal activities such as manipulation and fraud, and it is urgent to establish clear regulatory rules. At the same time, it is also necessary to improve investors' risk awareness and rational judgment ability. $BTC