Alex Konanykhin, CEO of cryptocurrency firm Unicoin, denounced the Securities and Alternate 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 once we believed a brighter future for cryptocurrency was rising. Only a day earlier than, SEC Commissioner Peirce, the Chair of its Crypto Activity Power, 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 in response to her understanding.
“The SEC’s allegations are blatantly false. We intend to show in court docket that they represent yet one more case of gross abuse of energy,” Konanykhin stated.
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 “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 brought on multi-billion-dollar damages to Unicoin buyers.
Konanykhin’s protection comes a day after the SEC filed fraud costs towards 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 gives and gross sales of rights certificates.
Photograph 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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