Alex Konanykhin, CEO of cryptocurrency firm Unicoin, denounced the Securities and Trade Fee lawsuit in opposition to his firm on Wednesday, calling the allegations “blatantly false.”
What Occurred: In a LinkedIn put up, Konanykhin expressed shock and disappointment over the regulator’s authorized motion.
“This assault got here once we believed a brighter future for cryptocurrency was rising. Only a day earlier than, SEC Commissioner Peirce, the Chair of its Crypto Process Power, mentioned that such cash shouldn’t be regulated by the SEC,” he mentioned.
Within the speech referred to by Konanykhin, Hester Peirce said that “most” cryptocurrencies weren’t securities in response to her understanding.
“The SEC’s allegations are blatantly false. We intend to show in courtroom that they represent one more case of gross abuse of energy,” Konanykhin mentioned.
See Additionally: Crypto Merchants Who Secured A Dinner With Donald Trump Walked Away With Main Earnings, Says Evaluation – Benzinga
Disclosure: 82% of retail CFD accounts lose cash
Konanykhin additional defended Unicoin, stating it’s “essentially the most compliant cryptocurrency firm within the nation,” and the one one with years of audited financials and detailed SEC studies. He vowed to battle the allegations, stating that the SEC’s actions have brought about multi-billion-dollar damages to Unicoin buyers.
Konanykhin’s protection comes a day after the SEC filed fraud expenses in opposition to the New York-based firm and its high executives, together with the Unicoin CEO, for deceiving buyers and elevating greater than $100 million. As well as, the agency was accused of violating federal securities legal guidelines by partaking in unregistered affords and gross sales of rights certificates.
Picture Courtesy: JRdes on Shutterstock.com
Unicoin was the title sponsor for Benzinga’s 2023 Fintech Deal Days and Way forward for Digital Property Occasion.
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