CandleFocus SEC vs Crypto Goes On: Will Unicoin and CyberKongz Handle It?
2024-12-19
Author: Content Editor
The U.S. Securities and Exchange Commission (SEC) has issued a Wells Notice to Unicoin, signaling its intention to file a lawsuit against the crypto investment firm. The SEC alleges fraud, deceptive practices, and the offering and sale of unregistered securities. Unicoin's CEO plans to contest the claims rather than settle.
Meanwhile, the crypto-based game CyberKongz has also received a Wells Notice from the SEC over alleged violations involving unregistered securities. CyberKongz plans to challenge the SEC's claims and defend NFT projects against unclear regulatory frameworks. The case could have broader implications for the web3 gaming industry and the blockchain industry as a whole.
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