Unicoin's Big Move: From Shareholder Vote to Crypto Exchange Listing

A Major Shift to Decentralization

Unicoin, a cryptocurrency founded by Alex Konanykhin and Silvina Moschini, is making significant strides in the crypto world. After a pivotal vote on December 5, shareholders approved a major transformation. They agreed to convert Unicoin into a decentralized, community-run asset. This strategic move aims to avoid being classified as a "security" under the new rules set by the SEC's Chairman Paul Atkins.

What Does This Mean?

Under the new guidelines, a cryptocurrency is only considered a security if the creators actively manage it. By transferring control to the Unicoin Foundation, the company bypasses this classification. This is a game-changer, allowing Unicoin to be traded on major crypto exchanges worldwide, not just on smaller platforms for crypto securities.

Insights from the Founders

Alex Konanykhin, the CEO, shared his perspective on the timing of the new SEC guidelines. He stated that if Unicoin had continued with its original plan, it would have been classified as a security, making it less liquid and harder to trade. By adhering to the new rules, Unicoin avoided this pitfall and positioned itself for success on major exchanges.

Sakineh Majd, a policy consultant for Unicoin, highlighted the improvements in the new rules. Previously, all cryptocurrencies were considered securities. Now, the focus is on specific promises of management, giving Unicoin a clear path to avoid security classification.

Next Steps and Future Prospects

With shareholder approval secured, Unicoin is now poised to list on several major crypto exchanges. This marks a significant milestone for the company and its shareholders.

Unicoin: A Pioneer in Transparency and Innovation

Unicoin is not just any cryptocurrency. It is the first audited and publicly reporting crypto company in the U.S. The goal is to create an institutional-grade cryptocurrency that is made in the USA, scalable, and energy-efficient. Unicoin sets a high standard for transparency, providing near-daily reports to shareholders about its strategies, achievements, risks, and challenges.

Fundraising Success and Recognition

In terms of fundraising, Unicoin has outperformed other cryptocurrencies, reaching an $18B valuation in its pre-public fundraising rounds. Unicoin is also the official cryptocurrency of Unicorn Hunters, a popular business series.

Challenges and Controversies

However, the journey hasn't been without obstacles. Unicoin became a target of the SEC's "War on Crypto" after announcing plans to go public on the New York Stock Exchange. CEO Alex Konanykhin detailed this fight in his book, "Unicoin: War on Crypto and the Future of Money." The SEC's actions against Unicoin are also the subject of a mockumentary called "A Trillion-Dollar Hit Job," currently in post-production.