[Tron filed a lawsuit in the New York Federal Court, requesting the dismissal of the lawsuit filed by the U.S. SEC] Golden Finance reported that Tron filed a lawsuit in the New York Federal Court, requesting the dismissal of the lawsuit filed by the U.S. Securities and Exchange Commission (SEC). The platform asked the court to dismiss the case based on the material issues principle, noting that the SEC does not have arbitrary power over the cryptocurrency space. The main focus on Tron is regulatory intervention in the platform’s offering of foreign digital assets to foreign buyers on a global platform. Tron argued that the regulator's attempt to apply U.S. security laws to "primarily foreign conduct" exceeded the SEC's authority. Tron added that while the SEC is not a "global regulator," its interference in foreign affairs exceeds its limits. In a recently filed motion, Tron argued that the tokens were not investment contracts under the Howey test. Additionally, the motion accuses the SEC of a lack of “specificity” in its allegations and that the agency summarized the allegations without naming any victims.
