Miami CEO Calls for New Day in Crypto and Asks for an End to the SEC Probe Against Unicoin | Opinion

This week, a congressional committee will vote on the appointment of U.S. Securities and Exchange Commission Chair nominee Paul Atkins.

If the crypto capital of the world is on President Donald Trump’s mind, then so is the U.S. Securities and Exchange Commission.

A congressional committee will vote this week on the appointment of Trump’s nominee for SEC chair, Paul Atkins. His confirmation would mark another milestone in Trump’s agenda to make America the crypto capital of the world.

His remarks at the Blockworks Digital Assets Summit and the White House Digital Asset Summit have highlighted the administration’s focus on fostering cutting-edge, resilient and accountable American-made cryptocurrencies.

For full transparency, the crypto company I co-founded, Unicoin, has been subject to an SEC probe since last year. In December, we were notified that the regulator had no intention to drop the investigation despite being prepared to accuse us of fraud, deceptive practices and handling unregistered securities. To be clear, we completely disagree with the SEC’s claims.

The probe was announced in the final days of the Biden administration, before the SEC’s leadership was changed by Trump, who prefers those who are fans of crypto. Since then, I have seen a dozen other crypto companies escape similar fates as the agency’s new management has dropped its planned enforcement actions.

We would like to be next.

Like Trump, I see the moment. The president envisions a renewed “Golden Age in America” through crypto, a vision I fully share.

Cryptocurrency adoption has soared in recent times. By 2024, around 40% of American adults are estimated to own cryptocurrency, up from 30% in 2023. Among these owners, 63% plan to purchase more cryptocurrency in 2025, indicating a vibrant and expanding market.

Miami, where I am proud to call home, has become a major cryptocurrency hub, hosting events like the Bitcoin conference, which drew over 12,000 attendees earlier this year.

Local policymakers have been supportive of cryptocurrency innovation, introducing initiatives like allowing tax payments in cryptocurrency and launching MiamiCoin to fund city projects. With its low taxes and business-friendly climate, Miami is a magnet for blockchain companies and crypto investors.

Reflecting these trends, the Trump administration has taken decisive steps to establish U.S. leadership in the cryptocurrency space. Earlier this year, Trump signed an executive order creating a strategic Bitcoin and cryptocurrency reserve, which some have likened to a “digital Fort Knox.”

While the administration has been instrumental in providing clarity and confidence in America’s cryptocurrency market, it’s crucial that we develop digital assets with transparency, integrity and a commitment to serving the American people. Trump’s endorsement of blockchain technology aligns with his broader vision for American economic strength, emphasizing trust, security and resilience.

However, the cryptocurrency landscape is still plagued by unregulated, opaque operations that contribute to scams and market volatility.

As the co-founder of Unicoin, a company with a strong presence in Miami and New York City, I have witnessed the challenges posed by over-regulation by the previous administration’s SEC. Despite being subject to unwarranted scrutiny, Unicoin has embraced transparency, aligning with Trump’s 2025-era commitment to accountability.

Unicoin’s openness in disclosing transaction records, audits and financial reports sets it apart in an industry often criticized for its lack of oversight. This model fosters trust, encourages healthy competition and enterprise.

Our digital asset was designed with American investors in mind, ensuring compliance with regulatory standards while promoting financial security. By focusing on transparency and community involvement, Unicoin exemplifies what a responsible, American-made cryptocurrency should be.

To maintain a competitive edge in the global digital economy, the U.S. must prioritize developing homegrown cryptocurrencies. This entails fostering domestic innovation while holding companies to higher transparency benchmarks.

The need for accountable cryptocurrencies transcends regulation; it’s about ensuring that digital assets are safe, secure and align with American values. Blockchain technology presents an opportunity to build a more inclusive and transparent financial system — but only if innovation is met with accountability.

And Miami showcases what a cryptocurrency ecosystem with accountability can look like. Its forward-thinking policies and business-friendly environment have positioned it at the forefront of the U.S. cryptocurrency revolution.

As we enter a new fiscal quarter, we have a unique opportunity — from Miami to Washington, D.C. — to shape a future where digital assets rise above financial speculation and become a fundamental pillar of a safer, more transparent and ultimately more prosperous U.S. economy.

Alex Konanykhin is chief executive officer of Unicoin. He is a recent immigrant to the U.S. and resides in Miami.