HONG KONG -- U.S. fraud charges laid against Chinese cryptocurrency entrepreneur Justin Sun could set back plans by a digital asset exchange that counts him as an adviser to obtain a license to operate in Hong Kong, securities lawyers say.
The U.S. Securities and Exchange Commission on Wednesday filed a civil suit accusing Sun and three of his wholly owned companies, including the Tron Foundation, of selling two unregistered crypto tokens and manipulating trade in one of them. Sun said the SEC complaint "lacks merit."
