- The SEC’s prosecution against Justin Sun centers on alleged TRX manipulation.
- The defense deadline is now extended to December 8, 2023.
- The extension suggests exploration of a “possible resolution” before moving forward.
The Securities and Exchange Commission’s (SEC) case against Justin Sun, a prominent figure in the crypto industry, and his company has seen a new development. At the heart of the prosecution lies the accusation of manipulating TRX, the native token of the TRON network.
In a recent turn of events, the presiding judge has granted the defense an extension, pushing their deadline to December 8, 2023. This extended timeline offers both parties an opportunity to “explore possible resolution of the SEC’s claims against defendants before motion practice.”
Such an extension is not uncommon in complex legal matters, especially when there’s a potential for out-of-court settlements or resolutions. It provides the parties involved adequate time to deliberate, negotiate, and potentially come to an agreement that might be mutually beneficial, without the complications and uncertainties of a drawn-out court battle.
While the specifics of the discussions remain confidential, the crypto community will be keenly watching for any signs of a resolution or further developments. Given the significance of the case and its potential ramifications on the broader crypto landscape, its outcome will undoubtedly be of paramount importance to investors, stakeholders, and industry watchers.
Recommended News :
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
