This strategic pivot ensures Unicoin’s classification as a non-security under new guidelines recently announced by Paul Atkins, Chairman of the Securities and Exchange Commission (SEC). The new guidelines stipulate that cryptocurrencies are deemed securities only if there is an "explicit and unambiguous expectation of essential managerial efforts to be undertaken by the issuer." By transferring such managerial responsibilities to the newly formed Unicoin Foundation, Unicoin avoids the restrictive "security" label.
Securing a non-security classification allows Unicoin to be traded as a commodity on major global cryptocurrency exchanges, rather than being restricted to low-volume platforms authorized only for trading crypto securities.
“It is fortunate that the new SEC guidelines were revealed prior to our ICO,” said Alex Konanykhin, CEO of Unicoin. “Had we proceeded under our previous business model, Unicoin would have been classified as a security—a status that would have severely limited our liquidity. By aligning with Chairman Atkins’ guidelines, we have avoided this obstacle and positioned Unicoin for trading on major crypto exchanges.”
Sakineh Majd, a policy consultant for Unicoin, emphasized the regulatory shift: “Chairman Atkins has narrowed the scope of regulation from the previous administration's stance that 'all cryptocurrencies are securities' to a specific definition involving explicit promises of management. This represents a major regulatory improvement, providing a clear path for Unicoin to avoid security status.”
With shareholder approval secured, Unicoin is now proceeding with plans to list on several major crypto exchanges.
Unicoin has outperformed other cryptocurrencies in pre-ICO fundraising, achieving the $18B valuation in its pre-public fundraising rounds. Unicoin is the official cryptocurrency of Unicorn Hunters, “the most iconic business series of recent times”, according to Forbes magazine.
Unicoin became a primary target of the SEC’s notorious "War on Crypto" after announcing plans to go public on the New York Stock Exchange. In his new book, “Unicoin: War on Crypto and the Future of Money”, CEO Alex Konanykhin details his fight to protect thousands of Unicoin shareholders from the anti-crypto lawfare waged under the supervision of the disgraced former SEC Chairman Gary Gensler.
The SEC's efforts to destroy Unicoin through gross abuse of power are a subject of the “A Trillion-Dollar Hit Job” mockumentary, currently in post-production.
Contact
Policy Advisor Sam Amsterdam Unicoin Sam@amsterdamgroup.net +1 (202) 910-8349
Disclaimer: Press release sponsored by our commercial partners.
Daily Debrief Newsletter
Start every day with the top news stories right now, plus original features, a podcast, videos and more.
