Foresight News reports that the U.S. Securities and Exchange Commission (SEC) recently issued a Wells Notice to the crypto investment company Unicoin, accusing it of fraud, misconduct, and unregistered securities issuance. Unicoin CEO Alex Konanykhin revealed that the company has sold approximately $3.5 billion worth of tokens and has about 70,000 investors, with its tokens backed by physical assets such as 8,000 acres of land in the Bahamas. SEC Chairman Gensler will step down in January 2025, and this move is seen as the last wave of regulatory actions against the crypto industry during his tenure. Unicoin must respond by December 24, and the company has stated it will choose legal confrontation rather than settlement.
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Crypto investment company Unicoin receives Wells Notice from the SEC
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