{"id":30208,"date":"2024-10-01T12:00:01","date_gmt":"2024-10-01T09:00:01","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=30208"},"modified":"2024-10-01T08:44:30","modified_gmt":"2024-10-01T05:44:30","slug":"sec-secures-victory-against-rivetz-corp-in-ico-case","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/sec-secures-victory-against-rivetz-corp-in-ico-case\/","title":{"rendered":"SEC Secures Victory Against Rivetz Corp in ICO Case"},"content":{"rendered":"

Once more securing a court victory against Rivetz Corp<\/strong>. and its CEO, Steven Sprague<\/strong>, the United States Securities and Exchange Commission (SEC)<\/strong> has launched an anti-initial coin offer (ICOs<\/strong>) campaign. September 30: Rivetz, featuring Ethereum-based Rivetz (RvT) tokens from its 2017 ICO, was found by a Massachusetts federal judge to have sold unregistered securities.<\/p>\n

Originally suing the now-defunct Sprague Blockchain Hardware Company<\/strong> in September 2021, the SEC had According to the lawsuit, Rivetz<\/strong> had generated $18 million from around 7,200 investors\u2014including a third based in the United States\u2014by selling unregistered RvT tokens. The court disapproved even though Sprague, representing himself, contended the tokens were software products rather than securities.<\/p>\n

Judge Mark Mastroianni<\/strong> found the Rivetz tokens fit as securities under the Howey test, which determines whether a transaction qualifies as an investment contract. The judge noted that Rivetz’s comments to investors clearly showed how closely the value of the token was related to the company’s attempts\u2014yet ineffective\u2014to create a mobile security ecosystem.<\/p>\n

The court stressed that the coins had no inherent value at the time of the ICO since Rivetz’s future success defined their worth just by itself. This made the tokens speculative investments, fulfilling the Howey test criteria that state an investment contract occurs when profits are expected from the labor of others.<\/p>\n

This action corresponds with the SEC’s triumph in another ICO litigation against Opporty International and producer Sergii Grybniak. The consistent victories of the SEC attest to its ongoing efforts to regulate and enforce securities rules in the domain of cryptocurrencies.<\/p>\n

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our<\/span><\/i> Telegram,<\/span><\/i><\/a> YouTube<\/span><\/i><\/a>, and<\/span><\/i> Twitter<\/span><\/i><\/a> channels for the latest<\/span><\/i> news<\/span><\/i><\/a> and updates.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

Once more securing a court victory against Rivetz Corp. and its CEO, Steven Sprague, the United States Securities and Exchange Commission (SEC) has launched an anti-initial coin offer (ICOs) campaign. September 30: Rivetz, featuring Ethereum-based Rivetz (RvT) tokens from its 2017 ICO, was found by a Massachusetts federal judge to have sold unregistered securities. Originally<\/p>\n","protected":false},"author":6,"featured_media":30209,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,657,1],"tags":[221,8846,39],"class_list":["post-30208","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-en","category-genel","tag-ico","tag-rivetz-corp","tag-sec"],"yoast_head":"\nSEC Secures Victory Against Rivetz Corp in ICO Case - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/sec-secures-victory-against-rivetz-corp-in-ico-case\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SEC Secures Victory Against Rivetz Corp in ICO Case - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Once more securing a court victory against Rivetz Corp. and its CEO, Steven Sprague, the United States Securities and Exchange Commission (SEC) has launched an anti-initial coin offer (ICOs) campaign. September 30: Rivetz, featuring Ethereum-based Rivetz (RvT) tokens from its 2017 ICO, was found by a Massachusetts federal judge to have sold unregistered securities. Originally\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coinengineer.net\/blog\/sec-secures-victory-against-rivetz-corp-in-ico-case\/\" \/>\n<meta property=\"og:site_name\" content=\"Coin Engineer\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-01T09:00:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-01T05:44:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/10\/sec.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"768\" \/>\n\t<meta property=\"og:image:height\" content=\"403\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/coinengineer.net\/blog\/sec-secures-victory-against-rivetz-corp-in-ico-case\/\",\"url\":\"https:\/\/coinengineer.net\/blog\/sec-secures-victory-against-rivetz-corp-in-ico-case\/\",\"name\":\"SEC Secures Victory Against Rivetz Corp in ICO Case - Coin Engineer\",\"isPartOf\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/sec-secures-victory-against-rivetz-corp-in-ico-case\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/sec-secures-victory-against-rivetz-corp-in-ico-case\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/10\/sec.jpg\",\"datePublished\":\"2024-10-01T09:00:01+00:00\",\"dateModified\":\"2024-10-01T05:44:30+00:00\",\"author\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546\"},\"breadcrumb\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/sec-secures-victory-against-rivetz-corp-in-ico-case\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/coinengineer.net\/blog\/sec-secures-victory-against-rivetz-corp-in-ico-case\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/sec-secures-victory-against-rivetz-corp-in-ico-case\/#primaryimage\",\"url\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/10\/sec.jpg\",\"contentUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/10\/sec.jpg\",\"width\":768,\"height\":403},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/coinengineer.net\/blog\/sec-secures-victory-against-rivetz-corp-in-ico-case\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/coinengineer.net\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"SEC Secures Victory Against Rivetz Corp in ICO Case\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\",\"url\":\"https:\/\/coinengineer.net\/blog\/\",\"name\":\"Coin Engineer\",\"description\":\"Btc, Coins, Pre-Sale, DeFi, NFT\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/coinengineer.net\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546\",\"name\":\"Tanju Akb\u0131y\u0131k\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g\",\"caption\":\"Tanju Akb\u0131y\u0131k\"},\"url\":\"https:\/\/coinengineer.net\/blog\/author\/cetanju\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"SEC Secures Victory Against Rivetz Corp in ICO Case - Coin Engineer","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/coinengineer.net\/blog\/sec-secures-victory-against-rivetz-corp-in-ico-case\/","og_locale":"en_US","og_type":"article","og_title":"SEC Secures Victory Against Rivetz Corp in ICO Case - Coin Engineer","og_description":"Once more securing a court victory against Rivetz Corp. and its CEO, Steven Sprague, the United States Securities and Exchange Commission (SEC) has launched an anti-initial coin offer (ICOs) campaign. September 30: Rivetz, featuring Ethereum-based Rivetz (RvT) tokens from its 2017 ICO, was found by a Massachusetts federal judge to have sold unregistered securities. Originally","og_url":"https:\/\/coinengineer.net\/blog\/sec-secures-victory-against-rivetz-corp-in-ico-case\/","og_site_name":"Coin Engineer","article_published_time":"2024-10-01T09:00:01+00:00","article_modified_time":"2024-10-01T05:44:30+00:00","og_image":[{"width":768,"height":403,"url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/10\/sec.jpg","type":"image\/jpeg"}],"author":"Tanju Akb\u0131y\u0131k","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Tanju Akb\u0131y\u0131k","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/coinengineer.net\/blog\/sec-secures-victory-against-rivetz-corp-in-ico-case\/","url":"https:\/\/coinengineer.net\/blog\/sec-secures-victory-against-rivetz-corp-in-ico-case\/","name":"SEC Secures Victory Against Rivetz Corp in ICO Case - Coin Engineer","isPartOf":{"@id":"https:\/\/coinengineer.net\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/coinengineer.net\/blog\/sec-secures-victory-against-rivetz-corp-in-ico-case\/#primaryimage"},"image":{"@id":"https:\/\/coinengineer.net\/blog\/sec-secures-victory-against-rivetz-corp-in-ico-case\/#primaryimage"},"thumbnailUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/10\/sec.jpg","datePublished":"2024-10-01T09:00:01+00:00","dateModified":"2024-10-01T05:44:30+00:00","author":{"@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546"},"breadcrumb":{"@id":"https:\/\/coinengineer.net\/blog\/sec-secures-victory-against-rivetz-corp-in-ico-case\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/coinengineer.net\/blog\/sec-secures-victory-against-rivetz-corp-in-ico-case\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/sec-secures-victory-against-rivetz-corp-in-ico-case\/#primaryimage","url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/10\/sec.jpg","contentUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/10\/sec.jpg","width":768,"height":403},{"@type":"BreadcrumbList","@id":"https:\/\/coinengineer.net\/blog\/sec-secures-victory-against-rivetz-corp-in-ico-case\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/coinengineer.net\/blog\/"},{"@type":"ListItem","position":2,"name":"SEC Secures Victory Against Rivetz Corp in ICO Case"}]},{"@type":"WebSite","@id":"https:\/\/coinengineer.net\/blog\/#website","url":"https:\/\/coinengineer.net\/blog\/","name":"Coin Engineer","description":"Btc, Coins, Pre-Sale, DeFi, NFT","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/coinengineer.net\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546","name":"Tanju Akb\u0131y\u0131k","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g","caption":"Tanju Akb\u0131y\u0131k"},"url":"https:\/\/coinengineer.net\/blog\/author\/cetanju\/"}]}},"_links":{"self":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/30208","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/comments?post=30208"}],"version-history":[{"count":3,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/30208\/revisions"}],"predecessor-version":[{"id":30217,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/30208\/revisions\/30217"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media\/30209"}],"wp:attachment":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media?parent=30208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/categories?post=30208"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/tags?post=30208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}