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

ChainCatcher news, according to Decrypt, Miami-based crypto company Unicoin has been asked by the SEC to reach a settlement by April 18 for allegedly violating securities registration and anti-fraud regulations, but the company's CEO Alex Konanykhin refused to compromise, stating that he will respond through the courts.

The SEC accused it of distributing the token UNIC through an airdrop, misleadingly claiming that it "has asset backing" and "complies with SEC regulations," and allegedly reselling restricted securities without exemption. Konanykhin called the accusations "a push from personnel left over from the Gensler era" and plans to countersue the SEC for causing billions of dollars in losses.