Unicoin CEO Declines SEC Settlement Offer in Ongoing Investigation
Unicoin has rejected a settlement proposal from the U.S. Securities and Exchange Commission (SEC) regarding an ongoing investigation, as revealed by CEO Alex Konanykhin in a letter to investors.
- The SEC issued an ultimatum to Unicoin for a negotiation meeting on April 18, which the company declined.
- Konanykhin described the SEC's pre-meeting demands as unacceptable but did not disclose details due to confidentiality.
- Unicoin received a Wells notice in December, indicating potential enforcement action over allegations of fraud and unregistered securities sales, with no official action filed yet.
- Since President Trump's administration, the SEC has reduced its aggressive stance on crypto regulation, pausing investigations into several companies.
- Recent settlements include Nova Labs paying $200,000 to resolve civil fraud charges, while claims regarding Helium tokens were dropped.
- Konanykhin stated that the SEC's actions have caused "multi-billion-dollar damage" to Unicoin, claiming it could have been valued at over $10 billion if not for regulatory obstacles.
The SEC has not commented on the matter.