WASHINGTON, D.C. — Unicoin CEO Alex Konanykhin stated he is requested the U.S. Securities and Alternate Fee to drag its investigation towards the crypto operation and hasn’t but acquired a response.
Unicoin represented a ultimate shot towards the trade from earlier Chair Gary Gensler’s SEC, which knowledgeable the agency in an official discover late final yr that the regulator supposed to accuse it of fraud, misleading practices and dealing with unregistered securities. The investigation was introduced within the ultimate days of President Joe Biden’s administration in December, earlier than the SEC’s management was taken over by these chosen by crypto fan President Donald Trump.
The CEO, who has watched a dozen different crypto corporations let off the hook of their enforcement actions by the company’s new administration, informed CoinDesk he wrote a March 17 letter to the company’s new Crypto Job Pressure, asking in regards to the investigation.
“I search your steering on one of the simplest ways to handle this abuse of energy and produce it to an finish,” Konanykhin wrote within the letter, a replica of which has been reviewed by CoinDesk. He requested the matter be terminated and that the conduct of the enforcement official concerned with the case on the company be reviewed, due to his “willingness to weaponize the SEC’s authority for political functions.”
A spokesperson for the SEC declined to touch upon Unicoin’s standing on Wednesday. A Unicoin spokesperson informed CoinDesk on Tuesday that the corporate “stays within the ultimate levels of the SEC evaluate course of. As of now, we now have not acquired any new updates or formal suggestions from the SEC concerning our registration. We’re absolutely dedicated to compliance and transparency, and we proceed to work towards securing the mandatory approvals for our deliberate choices.”
The CEO believes his firm, which suggests buyers can see as much as 8,000% returns, was focused by company harassment final yr, he stated in an interview with CoinDesk in Washington.
“They demanded from us to vow to not go public in the USA, to not ICO, to not elevate funds,” he stated. “So I packed my baggage and moved to Europe to renew enterprise.”
He stated the election of Trump and the president’s guarantees to make the U.S. the worldwide crypto capital made him come again to New York from Switzerland, with an intent to go public right here.
“We thought the warfare was over, and we stated to the SEC, ‘Hey, we’re resuming our exercise,” Konanykhin stated. At that time, the company introduced it supposed to focus on the corporate with civil prices.
Konanykhin famous that the regulator had accused them of violating securities legal guidelines with an airdrop. Konanykhin argued that it is a frequent advertising technique seen in lots of crypto property, and is “what the president of the USA is doing along with his memecoin.”
“It is embarrassing that the warfare on crypto nonetheless continues,” he stated. If the company continues its warfare on crypto by pursuing Unicoin, “I believe so many observers are going to be astonished.”
Unicoin began as an effort to create a “extra clear and dependable different” to Bitcoin within the U.S. (which, the Unicoin web site stated, has returned 9 million % to buyers during the last 10 years). He stated some analysts consider bitcoin was “created by Chinese language intelligence, however no person actually is aware of by whom.”
“I am elated by the chance to take part in making American the crypto capital of the planet because the president pledged he desires to do, despite the fact that it is extremely annoying to nonetheless have the legacy persecution from the SEC,” Konanykhin stated.
In the meantime, he stated, “we’re making ready actively for going public.”