Unicoin CEO sends letter to SEC calling for termination of investigation

BlockBeats News: On March 27th, Unicoin CEO Alex Konanykhin stated that his company is still under investigation and called on the new SEC leadership to end the charges against Unicoin. Konanykhin stated that he wrote a letter to the SEC's crypto task force on March 17, questioning the motives behind the investigation and requesting a review of the law enforcement officials involved for "weaponizing regulatory power for political purposes". The SEC accused Unicoin of fraud, misleading behavior, and issuing unregistered securities before the end of the Biden administration's term. Konanykhin stated that the company was forced to promise not to go public, raise funds, or issue tokens in the United States, and temporarily relocated to Europe to conduct business. After Trump took office, he promised to make the United States the "global capital of encryption". Konanykhin then returned to New York to prepare for an IPO, but the SEC announced that it would file a civil lawsuit against the company. He pointed out that the SEC's accusation of "airdrop illegality" is essentially a common marketing strategy in the cryptocurrency industry, even used by the president when issuing meme coins. Unicoin claims to be a "more transparent and reliable alternative" to Bitcoin and is currently actively pursuing plans to go public. Konanykhin said that if the SEC still insists on holding accountable, "many people will be shocked". The SEC spokesperson declined to comment on the status of Unicoin's case.