Unicoin refuses to settle with SEC and will contest the allegations in court

According to Decrypt, Miami based cryptocurrency company Unicoin has been asked by the SEC to reach a settlement before April 18th on suspicion of violating securities registration and anti fraud regulations. However, CEO Alex Konanykhin refused to compromise and stated that he will respond to the lawsuit through court. The SEC accuses it of distributing the token UNIC through airdrops, misleading claims that it is "asset-backed" and "SEC compliant," and suspected of reselling restricted securities without exemption. Konanykhin referred to the allegations as "driven by remnants of the Gensler era" and plans to counter sue the SEC for causing billions of dollars in losses.