Tron CEO Justin Sun Wants to Prove Crypto Is Not a Scam: Hires Former SEC Official
Tron founder Justin Sun is out to prove that crypto is not a scam ― despite hyperbolic emotional protestations by haters that it is.
To this end, Sun hired a former SEC employee to be the first compliance director for Tron, a blockchain platform for supporting smart contracts and high throughput.
Sun believes that tailored regulation will promote the mainstream adoption of cryptocurrencies by stamping out con artists.
“We’re ready to fully embrace regulation here,” Sun told VentureBeat. “We’ve just hired our first head of compliance, who previously worked for the SEC for almost eight years.”
We want to make sure we’re fully regulated in not only the United States, but also China, Korea, and
Japan in the future.
Blockchain is like a new operating system. We believe the world will need to embrace the blockchain. And we’re very optimistic about how it will be regulated.
The SEC, I think, also sees the blockchain as a good opportunity for innovation in the United States. I’m hoping that this year the SEC will license and regulate coin-based exchanges. This year will be the year of full regulation.
Sun made the remarks at the NiTron Summit in San Francisco on January 18. At the conference, Sun shared the stage with NBA Hall of Famer Kobe Bryant, where the two discussed the challenges of entrepreneurship.
Justin tweeted an amusing photo of himself with the retired NBA superstar holding a Tron mascot wearing a Los Angeles Lakers jersey.
Justin Sun is only 28-years-old, but his ambitions are huge. He really wants blockchain and
crypto to go mainstream.
One of the ways he hopes to do this is by launching the BitTorrent
Token (BTT) on the Binance Launchpad. BitTorrent is a peer-to-peer file sharing protocol that boasts 100 million users in 138 countries. Sun acquired BitTorrent for $126 million in July 2018.
The BitTorrent Token is a cryptocurrency linked to the BitTorrent file-sharing platform.