Tron Foundation asks New York Federal Court to dismiss SEC lawsuit against it

BlockBeats news, on April 1, Cointelegraph reported that the entity behind the Tron blockchain has asked the New York federal court to dismiss the lawsuit filed against it by the U.S. Securities and Exchange Commission (SEC) on the grounds that U.S. regulators are targeting "primarily foreign conduct." . The Singapore-based Tron Foundation said in its motion that the SEC’s case targets “foreign digital assets offered to foreign purchasers on a global platform,” over which the SEC has no authority. The Tron Foundation said the tokens were "sold entirely overseas" and took steps to avoid the U.S. market. The SEC did not allege that the tokens were "originally offered or sold to any U.S. residents." The Tron Foundation said the SEC's claim that subsequent secondary token sales on a "U.S. platform serving global users" "were unregistered U.S. securities" was "indefensible at best."