Justin Sun: “Exchanges Must Work With Regulators”

Tron Blockchain founder, Justin Sun, calls crypto exchanges to focus on long-term growth over short-term gains, signaling a strategic shift in the ecosystem.

As regulatory pressure mounts in the crypto industry, Justin Sun, founder of Tron Blockchain, advocates for exchanges to prioritize long-term growth. Justin Sun who spoke during the current TOKEN2049 event in Dubai stressed that crypto exchanges should work with regulatory arms and customers to develop a standard for the ecosystem.

Justin Sun Calls for Long-Term Focus

In a recent tweet, Justin Sun, founder of Tron Blockchain, urges crypto exchanges to prioritize long-term growth amidst regulatory challenges. This comes after the U.S. Securities and Exchange Commission (SEC) intensified scrutiny of major trading platforms like Binance, Coinbase, and KuCoin.

Justin Sun calls for a comprehensive regulatory framework in the crypto sector grow louder as Coinbase takes legal action against the SEC, citing regulatory ambiguity. Stakeholders stress the importance of collaboration between regulators and industry players to foster innovation while ensuring investor protection.

Furthermore, Sun filed a motion in the New York Federal Court to dismiss the lawsuit under the major questions doctrine, pointing out that the agency does not hold autocratic authority over the crypto space. Sun’s Tron blockchain argued that the SEC’s intrusion into the platform’s foreign asset offerings and their attempt to apply securities laws to “predominantly foreign conduct” was beyond the SEC’s authority.