Unicoin CEO Claims SEC’s Subpoenas are Retaliatory After Refusal to Settle

In a recent interview with journalist Eleanor Terrett, Unicoin CEO Alex Konanykhin disclosed that the SEC has escalated its scrutiny following the company’s decision to reject a settlement proposal. This latest development includes a series of new subpoenas directed at Unicoin’s employees and affiliated partners. Konanykhin characterized these actions as an example of retaliatory practices by the regulatory agency. The implications of these subpoenas could have significant repercussions for Unicoin as they navigate regulatory compliance challenges in the evolving crypto landscape. As regulatory oversight increases, companies operating in the digital currency sector will need to bolster their legal frameworks to mitigate potential risks. Notably, the SEC opted not to issue any public comments regarding their investigation, leaving the situation surrounded by uncertainty.