Cryptocurrency investment platform Unicoin has challenged the Securities and Exchange Commission (SEC)’s fraud allegations in court, three months after the lawsuit was filed. In a court filing, Unicoin argued that the SEC’s accusations are based on selective use of communications, misinterpretations of financial projections, and an disregard for warnings about potential risks. The company claims the SEC deliberately distorted disclosures from its own filings to suggest deception. The SEC’s lawsuit alleges that Unicoin, along with its CEO Alex Konanykhin, board member Silvina Moschini, and former investment chief Alex Dominguez, raised $100 million by misleading investors regarding certificates promising rights to Unicoin tokens and stock. Unicoin contends the SEC’s accusations lack sufficient proof of fraudulent intent and that securities fraud requires a false statement made intentionally to deceive. The company argues that since the risks identified by the SEC were openly disclosed, the elements of fraud could not be established. The SEC claims that Unicoin misled investors by claiming its upcoming tokens and rights certificates held billions of dollars in real-world assets such as real estate and equity in pre-IPO companies. However, according to Unicoin, these assets were significantly undervalued and that it was never claimed the tokens would function as fully collateralized investments. The company also pointed out that the SEC’s lawsuit was hindering its ability to mint the tokens and back them with assets. Unicoin requested the court dismiss the SEC’s lawsuit with prejudice, preventing a re-filing of the complaint.