In a Feb. 26 filing, both parties stated, “The Parties submit that it is in each of their interests to stay this matter while they consider a potential resolution.”

If the court grants the request, a joint status report will be submitted within 60 days.

SEC’s Changing Stance on Crypto!

This move aligns with the SEC’s recent trend of stepping back from aggressive crypto enforcement actions. Donald Trump’s administration has pledged to relax regulatory measures and position the U.S. as a global crypto hub.

The SEC had also sought to stay or dismiss its cases against major crypto firms like Binance and Coinbase. Reports suggest that lawsuits against Kraken and Ripple, scheduled for hearings in March and April, might also be paused.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

SEC’s Lawsuit Against Justin Sun!

In March 2023, the SEC sued Justin Sun and his companies Tron Foundation, BitTorrent Foundation, and Rainberry Inc., alleging that they conducted unregistered securities sales involving Tron (TRX) and BitTorrent (BTT) tokens and engaged in manipulative wash trading.

Sun sought to dismiss the lawsuit, arguing that the sales were predominantly foreign and outside the SEC’s jurisdiction. However, the agency countered that Sun’s frequent travels to the U.S. establish its authority over the matter.

Additionally, Sun’s $75 million investment in Trump’s crypto platform, World Liberty Financial, has raised eyebrows. He is currently the platform’s largest investor and advisor.

Neither SEC nor Tron representatives provided any comments on the legal proceedings.

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The post SEC and Justin Sun Ask Court to Stay Case for Settlement Talks! appeared first on Coin Engineer.