Justin Sun, the founder of Tron (TRX) blockchain, announced on March 31st via his official Twitter account that he would be resigning from his ambassadorial position as the representative of the Island of Granada in the World Trade Organization (WTO).
On March 31st, Justin Sun announced his resignation from the WTO ambassadorial position and also shared his plans for the cryptocurrency market on Twitter. Sun expressed his desire to become a regulator in the industry, emphasizing the importance of the digital economy in the future of trade and development.
Sun believes the cryptocurrency market needs proper regulations to ensure sustainable growth and prevent potential risks. With his knowledge and experience in the field, Sun hopes to contribute to the development of the industry as a regulator.
This comes after the TRX founder, who also serves as an adviser to Huobi Global, was relieved of his diplomatic duties after the National Democratic Congress defeated the New National Party in the June 2022 elections.
Justin Sun did not reveal any specific details regarding the regulatory agencies or positions he intends to pursue within the cryptocurrency industry.
Justin Sun announced his plans to become a regulator in the cryptocurrency industry comes shortly after the Securities and Exchange Commission (SEC) filed a lawsuit against him. The SEC accused the Tron founder of promoting cryptocurrencies unlawfully by allegedly instructing individuals to advertise tokens on social media and recruit new members to Tron-linked Telegram and Discord channels.
Over the past 24 hours, the TRX token has experienced a decline in its price trajectory, as reported in the news. Specifically, there has been a decrease of 0.01% in its price, and the token is presently being traded at a value of $0.06582. The support and resistance levels for TRX are currently at $0.06566 and $0.06709, respectively.
