On May 21, the U.S. Securities and Exchange Commission (SEC) yesterday filed a lawsuit against New York City-based Unicoin and its three senior executives-Alex Konanykhin, CEO and Chairman of the Board, Silvina Moschini, former President and former Chairman of the Board, and current director, and Alex Dominguez, former Chief Investment Officer-accusing them of making false and misleading statements when selling "certificates of equity" and Unicoin's common stock. The "certificate of equity" purportedly gives investors the right to acquire a crypto asset called Unicoin in the future. The SEC alleges that Unicoin promoted certificates of interest to the public through massive marketing campaigns, including ads on major airports, thousands of taxis in New York City, television and social media. Unicoin and its executives are suspected of having made more than 5000 investors purchase these certificates of equity through the following false and misleading statements. Unicoin and Konanykhin also violated securities laws by selling certificates of interest to the public without registration.