Unicoin CEO Challenges SEC Amid Crypto Crackdown, Eyes U.S. Comeback

Unicoin CEO Alex Konanykhin is pushing back against an ongoing investigation by the U.S. Securities and Exchange Commission (SEC), requesting the agency drop the case accusing the crypto firm of fraud and unregistered securities sales. Konanykhin revealed he sent a formal letter to the SEC’s new Crypto Task Force on March 17, urging them to end what he calls politically motivated harassment initiated under former SEC Chair Gary Gensler.

The investigation, launched in December during the final days of the Biden administration, alleged Unicoin engaged in deceptive practices. Konanykhin claims the enforcement officer “weaponized the SEC's authority” and demanded that Unicoin halt plans for a U.S. IPO, ICO, or fundraising. This prompted the CEO to temporarily relocate operations to Europe.

Now, with pro-crypto President Donald Trump in office and new SEC leadership in place, Konanykhin has returned to New York, optimistic about restarting efforts to go public in the U.S. Despite the company remaining in the final stages of SEC review, no formal updates have been received. An SEC spokesperson declined to comment.

Unicoin, positioned as a more transparent alternative to Bitcoin, promotes potential investor returns of up to 8,000%. Konanykhin defends the company's airdrop strategy, calling it a common marketing method used by many crypto projects — including a memecoin linked to President Trump.

Frustrated by continued regulatory pressure, Konanykhin stated, “It’s embarrassing that the war on crypto still continues.” He expressed hope that under the current administration, the U.S. could emerge as a global crypto hub, aligning with Trump’s vision.

Unicoin continues to prepare for a public offering, signaling its commitment to transparency, compliance, and long-term growth in the evolving digital asset landscape.