SEC Proposes Settlement in Long-Running Case Against TRON Founder Justin Sun

The US Securities and Exchange Commission (SEC) has agreed to a proposed settlement in its ongoing legal battle with Justin Sun, the founder of the cryptocurrency project TRON (TRX).

According to court documents, Rainberry, a part of the TRON ecosystem, would pay a penalty of $10 million under the proposed judgment. The SEC would also dismiss its remaining claims against Sun and related entities.

The settlement is not yet final, as it must be approved by a federal court before taking effect. The case began in 2023, when the SEC filed charges against Sun and various companies associated with the TRON network, including the Tron Foundation, the BitTorrent Foundation, and Rainberry.