After Losing His Diplomatic Status, Justin Sun Now Intends To Pivot To Crypto Regulation Amid SEC Spat
March 31, 2023Justin Sun, the founder of the Tron blockchain, has revealed his plans to re-enter the crypto space as he is stripped of his status as Grenada’s Ambassador to the World Trade Organization.
His return to crypto comes as he is embroiled in a lawsuit with the U.S. Securities and Exchange Commission (SEC) for allegedly offering and selling unregistered crypto tokens, Tron (TRX) and BitTorrent (BTT.
Justin Sun To Work As A Public Servant With Focus On Crypto Regulation
Justin Sun is returning to the crypto industry.
In a tweet Friday, Sun announced that his term as a diplomat for Grenada is coming to an end, effective 31st March 2023. He will spend the next few months transferring his ambassador duties to his successor.
After that, the megalomaniac crypto billionaire plans to take a short rest “before continuing my career as a public servant, with a particular focus on digital economy and crypto regulation.” In Sun’s view, these two areas are vital for the future of trade and development.
Sun’s announcement follows a report from the Grenada Broadcasting Network earlier this week that revealed he was stripped of his diplomat position after the June 2022 elections, when the New National Party, which gave Sun his status, was overthrown by the National Democratic Congress.
Sun was appointed as an Ambassador of Grenada to the World Trade Organization in Geneva back in December 2021. In the Friday tweet, the 32-year-old Chinese entrepreneur noted that “one of the highlights of my tenure was serving as the head of Grenada’s delegation at the 12th Ministerial Conference,” before adding, “I had the opportunity to address the conference and discuss trade issues with representatives from around the world.”
Just last week, the U.S. SEC filed a lawsuit against Justin Sun and eight celebrities for Tron-related violations. Sun and three of his companies, including the Tron Foundation, are also accused of inflating the prices of TRX and BTT by engaging in “manipulative wash trading”.
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