Thank you for your continued interest in our progress!
Yesterday, American Banker published my article about the SEC’s attack on Unicoin.
From the very beginning of the third SEC investigation of our company, I felt that it was a politically motivated hatchet job. It seemed to me that, as part of their notorious War on Crypto, the SEC was burning tremendous resources to find some violation as a pretext to destroy our company and preclude Unicoin from being launched.
Despite passing the two previous investigations “with flying colors” (no violations found), I could not help but to worry about the off-chance that, maybe, despite us spending millions of dollars on compliance (consultants, auditors, outside accountants, lawyers), we unwittingly overlooked some obscure rule, giving the SEC a legitimate ground to disrupt our operations.
But once the SEC finally announced their charges last month, I could only summarize them as “Lame. Pathetic. Gross abuse of power.”
Despite spending countless hours trying to to find a legitimate pretext, the SEC had to resort to accusations as grotesquely ridiculous as declaring that our free giveaway of unicoins were “sales” and that we failed to follow the related sales rules. That is, to collect evidence that we were giving 100 free unicoins only to millionaires and not regular people.
Imagine a flower shop owner who gives every passerby a free rose.
Only Gary Gensler’s SEC would probably describe it as an “act of selling/purchase” on a hare-brained theory that the shop owner benefits from the resulting goodwill (increased awareness of his shop).
It’d be undemocratic to restrict free gifts of sample coins to millionaires only. There’s no logical or legal basis for it.
Trying to cause a total loss to thousands of our investors for the “airdrop” of free unicoins – a very common marketing strategy in the crypto world – would be totally disproportionate EVEN if airdrops were prohibited.
But the funniest fact of this matter is that the SEC officially denies having such a policy. In its filing in a federal court in Texas, the SEC said that it was “a phantom, a supposed policy that the Commission never adopted and does not actually exist.”
This desperate attempt of the SEC to destroy Unicoin based on non-existing violations of a non-existing policy is clearly an example of the gross abuse of power the SEC has been found to commit in their efforts to fight crypto.
Predictably, other charges are equally false and ridiculous. (Nothing plausible ever followed blatantly false claims.)
Two days ago, we filed a formal response to the Commission and I intend to seek sanctions against the SEC if this matter ever goes to court.
I’ve been down this road before, winning 3 out of 3 federal court cases against the U.S. Department of Justice. In two cases, the court ordered the government to pay me compensation. In one case, the court ordered an investigation of the Department of Justice’s unlawful actions against me.
Fortunately, the SEC’s War on Crypto is coming to its ignominious end and I may not need to waste time and resources on proving that their War was unconstitutional. Many Attorneys General are already suing the SEC for that.
The new, pro-crypto, SEC is not likely to continue Gary Gensler’s War on Crypto.
The fact that Unicoin became the last major target of his unconstitutional War is a recognition of how impactful Unicoin is expected to be. A badge of honor, adding Unicoin to the list of the top crypto companies targeted in the failed SEC attempt to halt progress.
There’s no denial that, in 2024, the SEC succeeded in causing huge damages to Unicoin and its investors but this month the regulatory environment is expected to change from hostile to supportive.
I expect 2025 to be a great year for Unicoin.
Alex Konanykhin
CEO, Unicoin Inc.
Linkedin.com/in/konanykhin
Konanykhin.com
Unicoin.com
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P.S.: My updates focus on our journey towards becoming a publicly-traded company and on our efforts to turn our Unicoin into a major cryptocurrency. These updates are not intended to serve as financial advice or to replace our official reports filed with the SEC. Please note that I cannot possibly answer all the questions myself, so your response to this message may be processed by members of our Investor Relations team. My past updates can be found at u.site/updates
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