Golden Finance reported that the U.S. Securities and Exchange Commission (SEC) recently issued a Wells Notice to the crypto investment company Unicoin, accusing it of suspected fraud, misconduct and unregistered securities issuance. Unicoin CEO Alex Konanykhin revealed that the company has sold about $3.5 billion in tokens and has about 70,000 investors. Its tokens are backed by physical assets such as 8,000 acres of land in the Bahamas. SEC Chairman Gensler will step down in January 2025, a move seen as the last wave of regulatory action against the crypto industry during his tenure. Unicoin has until December 24 to respond, and the company said it will choose legal confrontation over settlement.