U.S. Judge Sides With SEC in Case Against Crypto Wallet Rivetz Over Sale of Unregistered Securities
Summary
A U.S. District Judge ruled in favor of the SEC against Rivetz, a defunct crypto firm, for selling unregistered securities. The SEC alleged Rivetz conducted an $18 million ICO in 2017 without proper registration. Judge Mark Mastroianni granted summary judgment, requiring a proposed judgment for injunctive and monetary relief by October 22, 2024, with objections due by November 5, 2024. The SEC's action is part of broader enforcement against crypto firms, including Ripple, Coinbase, and Binance, for securities law violations. Ripple was ordered to pay $125 million for similar violations.
