Unicoin CEO: Will File a Motion to Dismiss the Fraud Lawsuit Filed by the US SEC
Jinse Finance reported that crypto company Unicoin will file a motion today to dismiss the lawsuit brought against it by the U.S. Securities and Exchange Commission (SEC). In May, the SEC sued Unicoin and three of its executives, accusing them of misleading investors and raising over $100 million through false statements about crypto products and company stock, while attempting to appear regulated. In the forthcoming filing, Unicoin will argue that the case should be dismissed on the grounds that the complaint misrepresents its actual situation and ignores key disclosures. The company insists that it has "adopted a transparent, compliant, and responsible innovation strategy from the very beginning," emphasizing its voluntary registration of securities, publication of audited financial statements, and restriction of participants to qualified investors. Its CEO, Alex Konanykhin, described the SEC's lawsuit as political theater and blamed the responsibility on the "enforcers" within former SEC Chairman Gary Gensler's enforcement team.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Investment bank TD Cowen: SEC to enter a critical regulatory period, Chairman Atkins will lead crypto rulemaking
Bloomberg ETF analyst: Grayscale may launch its first Dogecoin ETF
Data: BitMine currently holds approximately 3.56 million ETH, with an unrealized loss of $2.98 billion.
Data: A certain whale deposited 10 million USDC into Hyperliquid and went 20x long on BTC.
