Justin Sun dispels rumors that TRON is under regulatory scrutiny
Justin Sun, Founder and CEO of TRON, recently took to Twitter to dispel rumors that Tron was in the middle of extensive regulatory scrutiny in the United States and China. According to Sun, neither the TRON Foundation nor BitTorrent has received any notice of regulatory proceedings from any regulatory agency, with the exec adding,
“We do not believe there is any merit to recent baseless claims that have been spread by third parties.”
Sun’s statements came after Cinneamhain Ventures Partner Adam Cochran outlined an account of claims of securities fraud filed against the Tron Foundation in the U.S which could be “jurisdictionally irrelevant” if Tron does not have material U.S operations or make efforts to make their token available to U.S customers.
When exploring the plausibility of Tron being exposed to U.S action, Cochran also went on to allege that Poloniex’s listing of $TRX might have been accompanied by the creation of accounts without KYC/AML certification requirements.
Finally, the exec mentioned that despite the fact that there is a case to be made for Tron’s potential susceptibility to legal action in the U.S, these claims should be considered unsubstantiated, at present, with the exec adding that “none of this should be considered financial advice.” “It’s worth treating it at as nothing more than a juicy FUD-y rumor until proven otherwise,” he said.
Interestingly, the value of TRX did not drop following Cochran’s tweets, with Justin Sun, for his part, claiming that Tron is free of any sort of regulatory scrutiny at this point in time.
In fact, at the time of writing, Sun and Cochran seemed to have buried the hatchet, with the former tweeting the following after Cochran “nuked” the aforementioned thread,
@AdamScochran We appreciate working together to limit FUD. It’s unfortunate how information can be distorted and blown out of proportion in our industry. We look forward to working together to building industry that is stronger and more resilient to short termism and speculation.
— Justin Sun? (@justinsuntron) January 5, 2021
Cochran’s allegations came at an interesting time, however, since it came on the back of a recent announcement that confirmed Sun’s appointment as an editorial board member of Information China, an authoritative journal of the National Information Technology Commission, from 1 January 2021 to 31 December 2021.
Up until Justin Sun’s appointment, Information China’s editorial board mainly consisted of government officials and industry experts.