SEC Wins Court Battle Against Rivetz Over Unregistered Securities

The latest COINOTAG update on October 1 reveals critical developments in the SEC’s legal battle with Rivetz, a mobile crypto wallet provider. In recently disclosed court documents, a U.S. district judge ruled in favor of the U.S. Securities and Exchange Commission (SEC) in their allegations against Rivetz for selling unregistered securities. Judge Mark Mastroianni granted the SEC’s motion for summary judgment, which relied on substantial evidence yet to undergo trial. This decision underscores the regulatory challenges faced by the cryptocurrency sector, emphasizing the need for compliance with federal securities laws.