🚨 Crypto News Flash! 🚨
- The SEC scored another victory, this time against Rivetz Corp and CEO Steven Sprague, over an unregistered ICO.
- Massachusetts judge ruled that Rivetz sold $18M worth of Ethereum-based tokens as securities.
- Sprague argued the tokens were software, but the judge said they were tied to Rivetz's security ecosystem plans.
- The tokens had no inherent value without Rivetz’s efforts, meeting the Howey test for securities.
- SEC to propose penalties by Oct. 22. Sprague was unavailable for comment.
Stay tuned for more crypto capers! 🕵️♂️