On January 16th, according to documents from the Southern District Court of New York, Sun Yuchen's legal team postponed the upcoming fraud and market manipulation trial (the third postponement so far) and restored the previously dissolved Singapore TRON Foundation. The initial lawsuit filed by the US Securities and Exchange Commission (SEC) in March of last year alleged that DeAndre Cortez Way (also known as SouljaBoy), Austin Mahone, and Sun Yuchen may have manipulated TRON and BTT tokens. Cortez Way defaulted, Mahone reached a settlement in August 2023. Sun Yuchen did not respond until a week after the absent judgment against Mahone, admitting that he would fight against the SEC.
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Justin Sun restarts TRON foundation before trial in US court
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Hong Kong expands digital yuan pilot to allow e-CNY wallets for cross-border payments
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Türkiye proposes to align crypto legislation with international standards
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US Secret Service seizes domain used to run cryptocurrency scam
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French securities regulator issues new warning to Bybit
The French securities regulator has issued a new warning to the cryptocurrency exchange Bybit, urging customers to make arrangements for the possibility that the platform may suddenly stop providing services to French customers. The Financial Markets Authority (AMF) stated in a notice on Thursday that the exchange is not registered as a Digital Asset Service Provider (DASP), and therefore is providing services illegally in France. Bybit has been blacklisted by the AMF since May 20, 2022 for illegal operations. -
Swiss Federal Council Plans to Implement Crypto Asset Reporting Framework to Improve Tax Transparency
The Swiss Federal Council (consisting of seven members jointly leading the Swiss government) plans to implement a Cryptocurrency Asset Reporting Framework (CARF) to increase tax transparency.On the 15th, the Federal Council issued a consultation document to investigate public opinion on joining the Automatic Exchange of Information (AEOI) to combat tax evasion and avoidance in cooperation with international tax authorities. Currently, Switzerland's joining of AEOI is scheduled for January 1, 2026. It is reported that the Organisation for Economic Co-operation and Development (OECD) established AEOI and other initiatives for the Group of Twenty (G20) countries, which later expanded to include other countries.Switzerland previously adopted the Common Reporting Standard (CRS) of the OECD in 2014, but did not include CARF regulating cryptocurrency assets and their providers. -
US lawmaker: SEC should repeal crypto accounting policy before Senate vote
US legislator Wiley Nickel wrote a letter to Gary Gensler, Chairman of the US Securities and Exchange Commission (SEC), on May 15th, stating that the SEC should repeal the cryptocurrency accounting policy (SAB 121) before the Senate vote. Protecting investors is the mission of the US Securities and Exchange Commission, but SAB 121 does the opposite by preventing heavily regulated US banks from mass custody of digital assets. In addition, Wiley Nickel criticized the SEC for bypassing the rule-making process when issuing SAB 121, believing that the purpose of the cryptocurrency accounting policy is to clarify existing policies, not to create new ones. -
Justin Sun has deposited 166 million USDT to Binance in the past 7 hours
According to on-chain analyst @ai_9684xtpa, in the past 7 hours, Sun Yuchen has accumulated a total of 166 million USDT deposited into Binance. -
Justin Sun redeemed 85.53 million USDT from JustLend 4 hours ago and immediately transferred it to Binance
As monitored by on-chain analyst Yu Jin, 4 hours ago, Sun Yuchen's Tron address (TXN...752) redeemed 85.53 million USDT from JustLend and immediately transferred it to Binance. -
Suspected Justin Sun address purchased more than 150,000 ETH in 12 days, worth US$430 million
Lookonchain monitoring data shows that 10 minutes ago, a wallet suspected to belong to Sun Yuchen purchased 18,616 ETH (worth $54.57 million) from Binance again. This wallet has purchased 151,196 ETH worth $435.3 million from Binance and DEX at a cost of $2,879 in less than 12 days.
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