The SEC dismissed all charges against Tron (CRYPTO: TRX) founder Justin Sun and related entities on March 5, with Rainberry paying a $10 million civil penalty to settle the 2023 lawsuit.
The Settlement Terms
The U.S. District Court for the Southern District of New York entered a Final Judgment dismissing all claims against Sun, the Tron Foundation, and the BitTorrent Foundation.
Rainberry, formerly BitTorrent Inc., was ordered to pay a $10 million civil penalty to the SEC.
The dismissal is with prejudice, meaning the regulator cannot bring the same claims again.
The settlement includes no admission or denial of wrongdoing. Rainberry agreed to a permanent injunction barring future violations of certain securities laws.
Sun responded on X: “Today’s resolution brings closure, but I never stopped building. I will continue to focus on accelerating innovation in the United States and around the world and look forward to working with the SEC to develop guidance and regulations for crypto …