Tron’s Justin Sun Claims Justin Sun, the founder of Tron (TRX), has disclosed his intentions to develop a novel solution that will eliminate gas fees and simplify the process of transferring stablecoins.
Making Stablecoin Transfers Easier
In the future, this functionality will allow users to pay for stablecoin transactions using the Stable Coins Move Creation themselves rather than using extra gas tokens, as Sun reported. This huge step forward will make stablecoins more accessible to big businesses by removing the gas fee barrier. Sun started using the Thezedon blockchain initially. Ethereum and other EVM-compatible public chains will implement the innovation later.
He predicted that it would launch in the fourth quarter of this year. The service will make it easier for big firms to install stablecoin services on the blockchain. One way to improve the user experience would be to introduce a stablecoin transfer option that doesn’t utilize gas. Utilize to make stablecoin transfers cheaper and eliminate. There is a need to buy and keep the network’s native token (TRX) to pay for them.
Additionally, the standard cryptocurrency user is anticipated to find Stable Coins Move Creation more usable and accessible because of the simplified transaction process that removes the requirement for users to manage gas expenses—Sun’s effort, which seeks to improve user experience and encourage greater. Using stablecoins across multiple blockchain ecosystems has generated much attention in the crypto world.
Sun Responds To U.N. Concerns, SEC Lawsuit
In a previous statement to the United Nations, Sun raised the possibility of illicitly using Tether’s USDT stablecoin. Justin Sun of Tron asserts his dedication to blockchain integrity and emphasizes facts. Sun addressed inquiries by outlining the differences and similarities between Tron’s TRC-20 and USDT transactions.
He said that to prevent bad actors from abusing blockchain technology. Tron agrees that blockchain dynamics must be understood. Tron DAO denies that its decentralized organization prefers criminal conduct. USDT transactions use Tron’s TRC-20 protocol. The DAO highlighted that Tron has over half the world’s USDT market share. The platform’s widespread appeal is because of its speed and affordability.
The creator of USDT, Tether, also challenged the U.N.’s assertions, defending its operations and stating that USDT is unsuitable for illegal usage due to the transparency nature of blockchain transactions. The U.S. Securities and Exchange Commission (SEC) filed a lawsuit in March 2023 against three of Justin Sun’s firms and Tron’s Justin Sun Claims blockchain creator himself, claiming that they sold securities that had not been registered.
SEC’s Lawsuit Targets Sun’s Entities
Sun-owned Tron Foundation, BitTorrent Foundation, and Rainberry Inc. are sued by the SEC. The lawsuit alleges that these businesses engaged in manipulative trading. Tactics and planned—the unregistered offering and sale of crypto asset securities. According to the SEC, Sun and his enterprises allegedly hired famous people to promote these unlicensed securities. No personality details were provided in the documents.
Tron’s legal team has submitted a motion to dismiss the SEC’s case. They claim the SEC is overstepping its authority by trying to regulate defendants from other countries. In addition, they claim that the TRX and BTT tokens in question do not qualify as securities under U.S. law. They do not meet the conditions laid out by the Howey Test, according to data collected by coinz4u. The value of Tron (TRX) has increased by 1.5 per cent in the last seven days, and it is now trading at $0.127.
