Alex Konanykhin, CEO of cryptocurrency firm Unicoin, denounced the Securities and Trade Fee lawsuit towards his firm on Wednesday, calling the allegations “blatantly false.”
What Occurred: In a LinkedIn publish, Konanykhin expressed shock and disappointment over the regulator’s authorized motion.
“This assault got here after we believed a brighter future for cryptocurrency was rising. Only a day earlier than, SEC Commissioner Peirce, the Chair of its Crypto Process Drive, stated that such cash shouldn’t be regulated by the SEC,” he stated.
Within the speech referred to by Konanykhin, Hester Peirce said that “most” cryptocurrencies weren’t securities based on her understanding.
“The SEC’s allegations are blatantly false. We intend to show in court docket that they represent one more case of gross abuse of energy,” Konanykhin stated.
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Disclosure: 82% of retail CFD accounts lose cash
Konanykhin additional defended Unicoin, stating it’s “probably the most compliant cryptocurrency firm within the nation,” and the one one with years of audited financials and detailed SEC reviews. He vowed to struggle the allegations, stating that the SEC’s actions have precipitated multi-billion-dollar damages to Unicoin traders.
Konanykhin’s protection comes a day after the SEC filed fraud expenses towards the New York-based firm and its prime executives, together with the Unicoin CEO, for deceiving traders and elevating greater than $100 million. As well as, the agency was accused of violating federal securities legal guidelines by participating in unregistered presents and gross sales of rights certificates.
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Unicoin was the title sponsor for Benzinga’s 2023 Fintech Deal Days and Way forward for Digital Property Occasion.
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Disclaimer: This content material was partially produced with the assistance of Benzinga Neuro and was reviewed and revealed by Benzinga editors.
