Unicoin Set for Crypto Exchange Debut Following Key Shareholder Approval

Source: CryptoDaily Original Title: Unicoin Set for Crypto Exchange Debut Following Key Shareholder Approval Original Link: Following a decisive vote at the Special Shareholder Meeting on December 5, Unicoin shareholders have formally approved the Board of Directors’ recommendation to transition the cryptocurrency into a decentralized, community-driven asset.

This strategic pivot ensures Unicoin’s classification as a non-security under new guidelines recently announced by the SEC Chairman. The new guidelines stipulate that cryptocurrencies are deemed securities only if there is an “explicit and unambiguous expectation of essential managerial efforts to be undertaken by the issuer.” By transferring such managerial responsibilities to the newly formed Unicoin Foundation, Unicoin avoids the restrictive “security” label.

Securing a non-security classification allows Unicoin to be traded as a commodity on major global cryptocurrency exchanges, rather than being restricted to low-volume platforms authorized only for trading crypto securities.

“It is fortunate that the new SEC guidelines were revealed prior to our ICO,” said Alex Konanykhin, CEO of Unicoin. “Had we proceeded under our previous business model, Unicoin would have been classified as a security—a status that would have severely limited our liquidity. By aligning with the new guidelines, we have avoided this obstacle and positioned Unicoin for trading on major crypto exchanges.”

“The SEC has narrowed the scope of regulation to a specific definition involving explicit promises of management. This represents a major regulatory improvement, providing a clear path for Unicoin to avoid security status,” noted a policy consultant for Unicoin.

With shareholder approval secured, Unicoin is now proceeding with plans to list on several major crypto exchanges.

About Unicoin

Unicoin Inc. is the first audited and publicly reporting cryptocurrency company in the United States. Unicoin’s objective is to provide an institutional-grade “Made in the USA” cryptocurrency, more scalable and energy-efficient than Bitcoin. Unicoin has set a new standard of transparency in the crypto industry by providing regular reports to its shareholders on its strategies, achievements, risks, and challenges.

Unicoin has outperformed other cryptocurrencies in pre-ICO fundraising, achieving an $18 billion valuation in its pre-public fundraising rounds.