According to BlockBeats, on March 23, Justin Sun responded to the lawsuit by the US SEC on his social platform, saying that the SEC's lawsuit lacked basis and would continue to build a decentralized financial system. In addition, Justin Sun also expressed his desire to work with governments and regulators to establish transparent guidelines to regulate the cryptocurrency industry, which will play an important role. BlockBeats previously reported that according to US court documents, the US Securities and Exchange Commission (SEC) formally sued Justin Sun, the founder of Tron and a member of Huobi's global advisory board, for alleged illegal sales of securities, fraud and market manipulation.