Unicoin to seek dismissal of SEC lawsuit

Unicoin plans to ask a court to dismiss a lawsuit from the U.S. Securities and Exchange Commission (SEC), arguing the agency misinterpreted its key disclosures, Decrypt reported. The company also claimed that then-SEC Chair Gary Gensler filed a baseless lawsuit against it for political reasons. The SEC previously sued Unicoin, alleging the company deceived investors by claiming its token was backed by real-world assets, including real estate, and raised over $100 million through the sale of unregistered securities.