{"id":300800,"date":"2023-03-27T17:30:23","date_gmt":"2023-03-27T21:30:23","guid":{"rendered":"https:\/\/dominicanewsonline.com\/news\/?p=300800"},"modified":"2023-03-27T19:10:40","modified_gmt":"2023-03-27T23:10:40","slug":"pm-skerrit-not-perturbed-by-sec-charges-against-justin-sun","status":"publish","type":"post","link":"https:\/\/dominicanewsonline.com\/news\/homepage\/homepage-carousel\/pm-skerrit-not-perturbed-by-sec-charges-against-justin-sun\/","title":{"rendered":"PM Skerrit not perturbed by SEC charges against Justin Sun"},"content":{"rendered":"
\"\"
PM Skerrit with Sun last year. Photo: Twitter<\/figcaption><\/figure>\n

Prime Minister, Roosevelt Skerrit, has said that the Government of Dominica is not perturbed by charges unveiled by the United States Securities and Exchange Commission (SEC) against Justin Sun, founder of the blockchain, TRON.<\/p>\n

Last year the government entered an agreement with TRON with Skerrit saying it would help Dominica in its drive to enhance economic growth by embracing digital innovation.<\/p>\n

But last week the SEC charged Sun and three of his companies with fraud and securities violations.<\/p>\n

Speaking at a press conference on Monday, Skerrit shrugged off the matter when he was questioned about it.<\/p>\n

“The government of Dominica is not perturbed at all,” he said. “There is no involvement of the Government of Dominica is this matter whatsoever and there is no naming of Dominica or the Government of Dominica in this matter whatsoever; nothing at all.”<\/p>\n

As a matter of fact, Skerrit said there is no regret in entering the agreement with TRON.<\/p>\n

“There is no regret or disappointment of anything like this,” he stated. “We signed an MOU. That was it. What somebody is involved in, whether in their past or future years has no bearing on us.”<\/p>\n

Skerrit did say that his government is not questioning what the SEC has done and on what basis.<\/p>\n

“It’s a matter for them and Mr. Sun to deal with, that has nothing to do with us,” he remarked. “It’s a matter for the SEC and for them to determine what the issues are and so on.”<\/p>\n

According to Skerrit, when the SEC brings out these types of charges, they are not criminal charges.<\/p>\n

“It’s an infraction of their standards and their regulations and they may impose a financial charge on you,” he said. “You don’t have to plead guilty. It doesn’t determine your guilt or innocence. There are many banks in America, Wells Fargo, have been fined by the SEC for regulations that they have violated … these things happen on an almost daily basis. So we [are] making a big hoopla about this thing in Dominica. That doesn’t determine the price of sugar on the shelves in Dominica; that doesn’t really make sense to me.”<\/p>\n

Last week Wednesday, the SEC unveiled the charges against Sun.<\/p>\n

It also charged three companies owned by Sun, \u201cTron Foundation Limited, BitTorrent Foundation Ltd., and Rainberry Inc. (formerly BitTorrent), for the unregistered offer and sale of crypto asset securities Tronix (TRX) and BitTorrent (BTT).\u201d<\/p>\n

\u201cThe SEC also charged Sun and his companies with fraudulently manipulating the secondary market for TRX through extensive wash trading, which involves the simultaneous or near-simultaneous purchase and sale of a security to make it appear actively traded without an actual change in beneficial ownership, and for orchestrating a scheme to pay celebrities to tout TRX and BTT without disclosing their compensation,\u201d the SEC said.<\/p>\n

In its agreement with TRON, the government announced last year that it was giving TRON the permission to \u201cissue Dominica Coin (\u201cDMC\u201d), a blockchain-based fan token to help promote Dominica\u2019s global fanfare for its natural heritage and tourism attractions.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Prime Minister, Roosevelt Skerrit, has said that the Government of Dominica is not perturbed by charges unveiled by the United States Securities and Exchange Commission (SEC) against Justin Sun, founder of the blockchain, TRON. Last year the government entered an…","protected":false},"author":16,"featured_media":300801,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_cbd_carousel_blocks":"[]","footnotes":""},"categories":[77,235,9],"tags":[],"class_list":["post-300800","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-homepage","category-homepage-carousel","category-news"],"acf":[],"yoast_head":"\nPM Skerrit not perturbed by SEC charges against Justin Sun - Dominica News Online<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dominicanewsonline.com\/news\/homepage\/homepage-carousel\/pm-skerrit-not-perturbed-by-sec-charges-against-justin-sun\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PM Skerrit not perturbed by SEC charges against Justin Sun - Dominica News Online\" \/>\n<meta property=\"og:description\" content=\"Prime Minister, Roosevelt Skerrit, has said that the Government of Dominica is not perturbed by charges unveiled by the United States Securities and Exchange Commission (SEC) against Justin Sun, founder of the blockchain, TRON. 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