Hi First name,
I’m pleased to report that our shareholders have overwhelmingly supported my recommendation to restore the original name of our company:
Once the formalities are completed, our company will be known under its original name of TransparentBusiness Inc.
I regret that the dirty War on Crypto unleashed by the SEC on the crypto industry derailed my plans of turning our company in the first publicly traded cryptocurrency company in the United States.
Here’s the text of my original message on the name change matter, sent out on February 12th:
…
1/ Investors keep asking me, “If the SEC rules forced us to transfer all ‘essential managerial efforts’ to Unicoin Foundation, what’d be the business of Unicoin Inc.?“
Indeed, under the U.S. rules, Unicoin Inc. may not be an issuer, developer, or promoter of unicoins without running into the risk of unicoins being classified as securities and becoming worthless.
I see no wisdom in the regulation that permits the free trading of bitcoins created by an anonymous entity while prohibiting U.S. entrepreneurs from deploying a superior alternative. But this is the current regulatory reality, and I cannot change it.
We may not even continue using the name Unicoin Inc. without a risk that some anti-crypto enforcer will argue that, by promoting our Unicoin Inc. company, we also promote Unicoin brand. That may be interpreted as “essential managerial efforts,” turning unicoins into illiquid “securities.”
I therefore recommended to our Board of Directors to revert to our original corporate name: TransparentBusiness Inc.
The directors supported my recommendation, and we will now ask our shareholders to vote on this matter.
Reverting to the original name will show our efforts to distance unicoins from the company which promised to develop and promote it – a cardinal sin in the SEC’s books. It’s a defensive move, forced by the War on Crypto, of which Unicoin remains the primary target.
Unicoin persecution is likely to become the SEC’s biggest embarrassment, as we discuss at WarOnCrypto.us
Guided by Unicoin Foundation, Unicoin may become the leading cryptocurrency, generating high value for all current coinholders. But it won’t be a made-in-the-USA cryptocurrency; it will be yet another crypto project kicked out of the United States by the SEC on behalf of the banking moguls.
With very best wishes,
IMPORTANT: My updates represent my personal opinions. 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. Success is never guaranteed. Risks are a factor in every business. Unicoin Inc. will not be providing “essential managerial efforts,” its shareholder voted to transfer those to Unicoin Foundation, which is currently being incorporated. “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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228 Park Ave South, #16065, New York, NY 10003, USA
Our mailing address is:
228 Park Ave South, #16065, New York, NY 10003, USA
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