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Paul Atkins was unable to clarify the suspension of the case against the founder of Tron., 2026/02/13 13:57:00
The Chairman of the U.S. Securities and Exchange Commission (SEC), Paul Atkins, was unable to provide lawmakers with clear explanations regarding the suspension of the case against Justin Sun, the founder of the cryptocurrency project Tron. This suspension has been in effect for 11 months.
During congressional hearings, Atkins stated that the SEC continues to advocate for transparency and clarity in cryptocurrency regulation, but he added that ongoing legal proceedings are not subject to public discussion.
In 2023, the SEC filed a lawsuit against Tron and Justin Sun, accusing them of offering unregistered securities and manipulating the TRX coin. The agency claimed that under Sun’s leadership, over 600,000 fictitious transactions were conducted to inflate TRX trading volumes. However, in February 2025, following the election of Donald Trump as President of the United States, the SEC and Sun’s attorneys jointly filed a motion to suspend the proceedings.
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Congresswoman Maxine Waters, a member of the Democratic Party, stated during the hearings that while the SEC was exploring options for resolving the dispute, Sun established a political connection with Trump through his family’s cryptocurrency lending platform, World Liberty Financial. Waters inquired of Atkins whether Sun’s investments in this crypto platform could have influenced the agency’s decision to suspend the proceedings. She referenced recent statements from blogger Zeng Ying, who claimed to be a former partner of Justin Sun and alleged that he was involved in TRX manipulations on the largest cryptocurrency exchange by trading volume, Binance.
Atkins promised lawmakers to conduct a confidential briefing on this matter. When asked whether the SEC would continue to combat fraud in the cryptocurrency market, Atkins responded that the agency utilizes its authority wherever securities laws are applicable. He assured that the SEC coordinates its actions with another U.S. cryptocurrency regulator, the Commodity Futures Trading Commission (CFTC).
In December, the total number of active accounts on the Tron network surpassed 350 million. Analysts from Tronscan attributed this to the relatively low fees within the network.
