Unicoin Counters SEC Fraud Lawsuit, Seeks Dismissal in NY Court

Unicoin, a crypto investment platform promoting asset-backed digital tokens, is challenging the U.S. Securities and Exchange Commission's fraud allegations in a New York federal court. The company argues the SEC misrepresented its filings and took statements out of context, treating optimistic projections as deliberate falsehoods.

The SEC's May lawsuit accused Unicoin and its executives of defrauding investors of $100 million through misleading claims about token backing and regulatory approval. Regulators allege the platform overstated asset valuations by billions and falsely advertised SEC endorsement.

In its dismissal motion, Unicoin contends the SEC lacks sufficient evidence of fraudulent intent, a critical element for securities fraud cases. The platform maintains it provided clear risk disclosures that regulators misinterpreted.