Tron filed a lawsuit in New York Federal Court, requesting the dismissal of the lawsuit filed by the US SEC

Tron has filed a lawsuit in the New York Federal Court seeking to dismiss the lawsuit brought by the US Securities and Exchange Commission (SEC). The platform requests that the court dismiss the case based on the principle of materiality and points out that the SEC does not have exclusive power over the cryptocurrency field. Tron's main concern is the regulatory agency's interference with the platform's provision of foreign digital assets to foreign buyers on a global scale. Tron argues that the regulatory agency is attempting to apply US securities laws to "primarily foreign conduct," which exceeds the SEC's authority. Tron further adds that while the SEC is not a "global regulatory agency," its intervention in foreign affairs goes beyond its limits. In a recent motion filed, Tron argues that these tokens do not belong to investment contracts based on the Howey test. Additionally, the motion accuses the SEC's allegations of lacking "specificity" and generalizing the charges without mentioning any victims.