Unicoin CEO: Will file to dismiss the fraud lawsuit brought against it by the U.S. SEC

[Unicoin CEO: Will File Motion to Dismiss the Fraud Lawsuit Filed by the SEC] The encryption company Unicoin will submit a motion today to dismiss the lawsuit filed against it by the U.S. Securities and Exchange Commission (SEC). The SEC sued Unicoin and its three executives in May, accusing them of misleading investors and raising over $100 million through false statements about encryption products and company stock, while attempting to don the guise of regulation. In the forthcoming filing, Unicoin will argue that the case should be dismissed on the grounds that the complaint misrepresents its actual circumstances and overlooks key disclosures. The company insists that it has "adopted a transparent, compliant, and responsible innovation strategy from the very beginning" and emphasizes its voluntary registration of securities, publication of audited financial statements, and restriction of participants to accredited investors. Its CEO Alex Konanykhin described the SEC's lawsuit as a political stunt, blaming the "hired guns" in the enforcement team of former SEC chairman Gary Gensler.