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Crypto mogul Justin Sun hits back at SEC fraud charges

U.S. regulator accuses him of artificially inflating market of his digital tokens

Justin Sun and three of his companies are accused of selling two unregistered crypto tokens and artificially inflating trading volume through "wash trading." (File photo by Reuters)

HONG KONG -- Cryptocurrency entrepreneur Justin Sun said fraud charges laid against him by the Securities and Exchange Commission on Wednesday "lack merit" and accused the U.S. regulator of targeting the industry.

Sun and three of his companies -- Tron Foundation, BitTorrent Foundation and Rainberry, formerly BitTorrent -- are accused by the SEC of offering and selling two unregistered crypto tokens, TRX and BTT, since August 2017 and of artificially inflating trading volume.

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