<ul><li>Rivetz Corp and its CEO, Steven Sprague, have lost a legal battle against the SEC in a case involving the sale of unregistered securities through an ICO.</li><li>The SEC accused Rivetz of raising $18 million through an ICO by selling Rivetz (RvT) tokens to over 7,200 investors, with a bulk of them in the United States.</li><li>Judge Mark Mastroianni ruled in favor of the SEC, stating that the RvT tokens were unregistered securities and that Steven Sprague failed to file the necessary registration.</li><li>The SEC continues its crackdown on crypto companies violating securities laws, and this case reinforces the SEC's stance on ICOs and federal compliance.</li></ul>

SEC Prevails in $18M ICO Case Against Defunct Crypto Firm

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