SEC is still planning to charge Miami Crypto Company – but it promises to fight back

Crypto investment company Unicoin is preparing for a collision of the courtroom with the top agent of Wall Street, because the Securities and Exchange Commission has indicated the plans to move forward with the pursuit of the Miami-based company, Decrypt has learned.

According to co-founder Alex Konanykhin, the Department of the SEC until 18 April gave Unicoin to discuss settlements about allegations that the company deliberately violated both registration and antifraud provisions of federal securities legislation.

That deadline has now passed, and Konanykhin says he is not going to settle, instead to experience the claims in court.

“I am fully planning to win this case in court,” he said Decrypt In an interview. “I think it is grotesque that the most conforming crypto company in the US remains the only one continued by the SEC.”

Konanykhin, who says the company has been Report financial disclosures The SEC has not been preventively excluded from the agency for what he calls “mass, multi-billion dollar damage” to the shareholders and the business community of Unicoin.

A sec spokesperson refused to comment.

The aim of the SEC to Unicoin comes as the Agency, under new Republican Leadership, has withdrawn various enforcement actions that former SEC chairman Gary Genler have set against controversial crypto companies-such as Coinbase, Ripple, Kraken and Consensys-over claimed effects. The new crypto-friendly Trump administration has promised to put an end to the so-called war against Crypto of the BIDEN-Administration and has instructed the congress to create legislation that creates compliance standards for cryptoma bands and investors.

However, Unicoin is confronted with a broader and potentially more serious set of accusations, including the violation of antifraud provisions of the Securities Act and Exchange Act. Sec leadership under acting chairman Mark Uyeda has recently public explanations indicated his intention to continue to pursue things with fraud.

According to a Wells knowledge that was sent in December, the agency that Unicoin has shown the indigenous token of the company, unic, by airdrops Without first verify the accredited investor status of the recipients. It says that the tokens has misunderstood as ‘assets supported’ and ‘sec-compatible’, while it claimed that the company has blown up the sales figures, and falsely claimed to possess or control real estate in several countries.

The agency also says that Konanykhin has wrongly resold limited effects without complying with the exemption requirements.

Konanykhin, who fiercely denies the claims, insists that the case has less to do with the law and has more to do with internal resistance in the SEC against a changing regulatory climate under the Trump government. He says that the urge to punish Unicoin is powered by staff holders from the Genler days, determined to strengthen at least a few enforcement victories in the midst of the massive recovery of crypto disputes. In particular, Konanykhin identified an assistant director in the enforcement division, Brad Ney, a 10-year-old SEC, who led the investigation of the Agency to Unicoin.

“I don’t think this reflects the views of the new sec leadership,” he said. “This is driven by rogue officials who are left of the Genler administration who are trying to cover themselves by bullying us into a false Schulduringing.”

The interview with Decrypt Was the first time that Konanykhin has pronounced since the company decided to abandon settlement interviews with the enforcement division.

Unicoin recently asked a face-to-face with the Crypto Task Force, which has held meetings with more than sixty crypto companies since February, but has not yet heard.