SEC Still Plans on Charging Miami Crypto Company—But It's Vowing to Fight Back
Unicoin faces legal action from the SEC for allegedly violating federal securities laws, including registration and antifraud provisions. The SEC's Division of Enforcement had given Unicoin until April 18 to settle, but co-founder Alex Konanykhin intends to fight the claims in court, asserting the company’s compliance. He has reported financial disclosures to the SEC for over three years and may consider suing the agency for damages. The SEC's pursuit of Unicoin contrasts with its recent rollback of enforcement actions against other crypto firms under new Republican leadership. Allegations against Unicoin include improper airdrops of its token, misrepresentation of asset backing, and inflated sales figures. Konanykhin claims the investigation is driven by SEC staff from the previous administration, asserting that it does not reflect the views of current leadership. Unicoin has requested a meeting with the Crypto Task Force but has not received a response.
