Unicoin opposes SEC's fraud lawsuit, claiming political motives
The cryptocurrency company #Unicoin will file a motion to dismiss the lawsuit from the U.S. Securities and Exchange Commission (SEC), alleging that the agency has distorted information and made politically motivated "fraud" allegations. Previously, the SEC sued Unicoin and three executives, accusing them of deceiving investors and raising over $100 million through misleading statements.
Unicoin rebuts the allegations
Unicoin argues that they have always complied with regulations and been transparent from the beginning, such as voluntarily registering securities and only allowing accredited investors to participate. CEO Alex Konanykhin believes the lawsuit is a deliberate act to prevent Unicoin from listing on the New York Stock Exchange (NYSE), which he believes would be an "embarrassing failure" for the anti-crypto campaign of #SEC . He also refuted allegations of inflating asset values, asserting that the SEC confused contract value with actual asset value.
Major legal challenge
Although Unicoin strongly opposes, legal experts warn that the company will face a tough battle. They note that the SEC's lawsuit shares many similarities with traditional securities fraud lawsuits, including allegations of financial exaggeration and real estate transactions. Although the Trump administration tended to be friendly towards crypto, experts believe that this holds little weight in federal court. #anh_ba_cong
