PANews reported on December 17 that according to Fortune, the U.S. Securities and Exchange Commission (SEC) has issued a Wells notice to the crypto investment company Unicoin, accusing it of fraud, misconduct and the sale of unregistered securities. Unicoin's main product is a cryptocurrency backed by physical assets such as real estate. The SEC's action is aimed at preventing its planned initial coin offering (ICO). Unicoin said it will launch a legal battle with the SEC.