Hi First name,

Thank you for your interest in Unicoin!

We got lucky.

WE DODGED THE BULLET!

Yes, it was annoying that the SEC announced their new criteria for classifying cryptocurrencies just 12 days before our scheduled ICO. I expected them to state their position much earlier, not ten months after the new Administration took over.

However, it would have been much worse if their guidelines were announced after our ICO, and we’d have discovered that our business model renders our coins a security, prohibited from being traded on all crypto exchanges except a few barely operational ones that trade crypto securities.

It’s unpleasant to have to adjust our strategy. But it’s a small price to pay for what we had been hoping for: the REGULATORY CLARITY.

Finally, we have an explicit criterion for determining what cryptocurrencies will be treated as securities. And we can easily avoid that trap, as Chairman Atkins narrowed the Supreme Court’s Howey test down to “explicit and unambiguous representations as to the essential managerial efforts to be undertaken by the issuer.”

His announcement drastically improves the regulatory environment for Unicoin.

This year started with the SEC insisting that “all alt-coins are securities.” Now, the SEC Chairman says that cryptocurrencies are NOT securities, unless the issuer makes “explicit and unambiguous” promises to provide “the essential managerial efforts.”

That gives us a straightforward way to issue and list our coins as non-securities.

We simply have to relegate the development and promotion of Unicoin to non-issuers. To the Community of Unicoin holders. And deploy a business model that would incentivize community involvement.

As I said, a small price to pay for avoiding the limitations, costs, and pain of treating unicoins as securities.

The community model worked well for Bitcoin, Ether, and many other cryptocurrencies. I expect it to work well for Unicoin.

Major coinholders are likely to contribute to increasing the value of Unicoin. Just like Michael Saylor tirelessly promotes Bitcoin. But there will be no “explicit and unambiguous representations as to the essential managerial efforts to be undertaken by the issuer.” (Provided that our shareholders formally vote for the adjusted strategy.)

Our investors overwhelmingly support this strategy adjustment, according to the recent LinkedIn discussion. Within 12 hours, my post has garnered three hundred comments, almost all of which support the adjustment to the non-security option.

Having received such a clear direction from our investors, we are working to finalize the details of the new business model. We plan to present it to the Special Shareholder Meeting within two weeks.

It is a great relief to have clarity on what we need to do to be traded on crypto exchanges around the world, in full compliance with SEC criteria.

I must add one disclaimer here. The criteria outlined by the SEC Chairman are not yet a formal regulation. Still, I deem it unlikely for the SEC enforcers to ignore the position expressed by the SEC Chairman in a formal Statement posted on the SEC website, especially given the support expected from two other Republican Commissioners and their 3:1 majority.

Sincerely,

Alex Konanykhin
CEO, Unicoin Inc.
Linkedin.com/in/konanykhin
Konanykhin.com
Unicoin.com
1 World Trade Center
85th Floor
New York, NY 10007

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. “Unicoin USA” term is occasionally used for Unicoin Inc., a Delaware corporation. My past updates can be found at u.site/updates

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