SEC’s Atkins admits Justin Sun has ‘active case’ ahead of Trump memecoin dinner
The post SEC’s Atkins admits Justin Sun has ‘active case’ ahead of Trump memecoin dinner appeared on BitcoinEthereumNews.com. Paul Atkins, the new SEC chair, has been in his role for less than a month, but he’s already getting pressured. On Tuesday, during a House Appropriations Committee, which oversees federal agency funding, lawmakers asked about his approach to crypto regulation, the SEC’s halted legal proceedings with Sun, and recent activity involving Trump-linked digital assets. They especially wanted to know if connections to crypto entrepreneur Justin Sun could pose a problem. Lawmakers question Justin Sun’s relationship with the president Rep. Glenn Ivey, D-Md., highlighted events that occurred before Trump’s January inauguration, noting that Sun’s company, Tron bought $30 million worth of tokens from World Liberty Financial (WLFI). After that, the SEC moved to stay its fraud case against Sun and his companies, including Tron. Now, Trump will host a gala later this week for the top 220 of his memecoin, and Sun just happens to be one of them. The crypto magnate revealed he is one of those who will be meeting Trump in a post on X early on Tuesday. “Honored to support @POTUS and grateful for the invitation from @GetTrumpMemes to attend President Trump’s Gala Dinner as his TOP fan!” Sun wrote. Ivey does not like it. “This, frankly to me, smells very bad,” he said on Tuesday. “My hope would be that the SEC would be investigating that piece.” Atkins was forced to admit that Sun has an “active case,” but he also noted that the SEC does not classify memecoins as securities. The newly appointed Atkins has promised to do things differently following a less-than-friendly approach under former chair Gary Gensler toward the crypto industry. Gensler ruled with an iron fist, forcing the agency to take a more cautious approach towards crypto while waging legal war against big names in the industry. Many of those cases…
The post SEC’s Atkins admits Justin Sun has ‘active case’ ahead of Trump memecoin dinner appeared on BitcoinEthereumNews.com.
Paul Atkins, the new SEC chair, has been in his role for less than a month, but he’s already getting pressured. On Tuesday, during a House Appropriations Committee, which oversees federal agency funding, lawmakers asked about his approach to crypto regulation, the SEC’s halted legal proceedings with Sun, and recent activity involving Trump-linked digital assets. They especially wanted to know if connections to crypto entrepreneur Justin Sun could pose a problem. Lawmakers question Justin Sun’s relationship with the president Rep. Glenn Ivey, D-Md., highlighted events that occurred before Trump’s January inauguration, noting that Sun’s company, Tron bought $30 million worth of tokens from World Liberty Financial (WLFI). After that, the SEC moved to stay its fraud case against Sun and his companies, including Tron. Now, Trump will host a gala later this week for the top 220 of his memecoin, and Sun just happens to be one of them. The crypto magnate revealed he is one of those who will be meeting Trump in a post on X early on Tuesday. “Honored to support @POTUS and grateful for the invitation from @GetTrumpMemes to attend President Trump’s Gala Dinner as his TOP fan!” Sun wrote. Ivey does not like it. “This, frankly to me, smells very bad,” he said on Tuesday. “My hope would be that the SEC would be investigating that piece.” Atkins was forced to admit that Sun has an “active case,” but he also noted that the SEC does not classify memecoins as securities. The newly appointed Atkins has promised to do things differently following a less-than-friendly approach under former chair Gary Gensler toward the crypto industry. Gensler ruled with an iron fist, forcing the agency to take a more cautious approach towards crypto while waging legal war against big names in the industry. Many of those cases…
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