The U.S. Securities and Exchange Commission (SEC) has moved to dismiss its remaining legal claims against Tron founder Justin Sun and the Tron Foundation. This resolution comes as Rainberry Inc., the company formerly known as BitTorrent and an entity within the Tron ecosystem, reached a formal settlement with the regulator. Under the agreement, Rainberry has consented to pay a $10 million civil penalty to resolve allegations concerning the unregistered offer and sale of crypto asset securities. While the charges against Sun and the Tron Foundation are being dropped, the substantial fine paid by Rainberry marks a conclusion to a significant chapter of regulatory scrutiny surrounding the network’s initial token distribution and promotional activities.
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SEC dismisses claims against Justin Sun and Tron Foundation, BitTorrent developer Rainberry agrees to pay $10M fine
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