Crypto firm Unicoin will today file a motion to dismiss a lawsuit brought against it by the Securities Exchange Commission (SEC). The SEC sued Unicoin and three of its executives in May, accusing them of misleading investors and raising more than $100 million by making false claims about crypto products and company stock while trying to put on a regulatory cloak.
In its forthcoming filing, Unicoin will argue that the case should be dismissed on the grounds that the indictment misrepresents its actual situation and ignores key disclosures. The company maintains that it has "adopted a strategy of transparency, compliance and responsible innovation from the outset" and stresses that it voluntarily registers securities, publishes audited financial statements and restricts participants to accredited investors.
CEO Alex Konanykhin described the SEC's lawsuit as a political stunt and blamed "goons" on former SEC Chairperson Gary Gensler's enforcement team.
Unicoin CEO: Will Apply to Dismiss U.S. SEC Fraud Lawsuit Against Him
2025-08-27 23:50:01
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