The Tron Foundation recently secured an important legal victory against the US regulator, the Securities and Exchange Commission (SEC). The two were in a legal clash, when a notable development emerged.
Tron sees a major legal win, but the battle is not over yet
The reports revealed that the Tron Foundation and its founder, Justin Sun, marked a key moment in the high-stakes legal battle when a Federal judge in New York denied the SEC’s request to expedite the ongoing securities fraud case against the project.
Of course, this does not mean that the SEC will give up, so the legal battle is still far from over. This victory will simply strengthen Tron’s defense.
The judge’s decision came after the SEC sought a pre-trial conference to introduce new arguments in its lawsuit against Tron and its founder, Justin Sun. The regulator claimed that the defense improperly introduced points about the “common enterprise” element of the Howey Test — a test that determines whether transactions qualify as an investment contract according to US law.
Sun and the Counsels for Tron responded by arguing that the SEC misunderstood their stance on the Howey Test, and that their defense is based on profit expectations from others’ efforts, and not the common enterprise element. After that, the judge rejected the request and ruled that the defense did not challenge the “common enterprise” element.
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US crypto investors continue to pursue projects with high potential
While the US SEC continues to crack down on the crypto industry, the strength of its community in the US remains strong, and investors are optimistic about the future. This is why many continue to invest in new opportunities, such as the PlayDoge (PLAY) token, which is about to conclude its months-long ICO.
PlayDoge is a meme coin that doubles as a P2E project that intends to launch a game inspired by the popular toy from the 90s known as Tamagotchi. This was a small device that allowed the user to have their own digital pet, which they could play with, feed, and train.
PlayDoge will offer the same, only in the form of an app, and it will reward the players for interacting with their pets with PLAY tokens. Players will also be able to complete mini-games to increase their earnings but also stake their tokens, and more.
BUY PLAY WITH BNB, ETH, USDT, OR CREDIT/DEBIT CARD
By combining memes, gaming, the P2E model, and 90s nostalgia, the project ran a highly successful presale that raised over $6.14 million. Its token’s price is currently at $0.00531, but the ICO is scheduled to end next Monday, August 26. In other words, anyone who plans to invest needs to do so quickly, as the time is running out, and right now is the last chance to buy during the presale.
