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SEC Charges Unicoin With Faking Billion-Dollar Fundraise and Real-Estate Backing
SEC Charges Unicoin With Faking Billion-Dollar Fundraise and Real-Estate Backing
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The U.S. Securities and Exchange Commission has escalated its crackdown on the cryptocurrency sector, targeting Unicoin and its executives for alleged securities fraud. The agency accuses the company of misleading investors by exaggerating both its fundraising success and the asset backing of its token.
According to the SEC’s complaint, Unicoin falsely claimed to have raised $3 billion while misrepresenting the stability and profitability of its cryptocurrency offering. The case underscores growing regulatory scrutiny as authorities seek to curb deceptive practices in digital asset markets.
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