Summons Issued to Justin Sun in SEC Enforcement Case

Justin Sun, the founder of Tron Foundation and BitTorrent Foundation, has been served with a court summons from a district court in New York. The summons gives Sun 21 days to respond and was reportedly delivered to two addresses in Singapore. This follows an enforcement action by the Securities and Exchange Commission (SEC) last month, which filed a lawsuit against Sun and three entities, alleging multiple securities violations. Sun is accused of trading TRX and BTT without registering them as securities as well as failing to disclose payments made to celebrities for their endorsements of crypto assets and products. Additionally, he’s purported to have been involved in wash trading. Despite the enforcement action, Sun remains upbeat and recently tweeted about hosting cryptocurrency events in Shanghai and Beijing, despite cryptocurrency sales and trading currently being illegal in China.