SEC lands $700K victory in another ICO court case
Another ICO case comes to a close. After years of legal action from United States governing bodies, Blockvest, a 2018 initial coin offering, or ICO, has received its final orders. “The SEC, as a government agency, seeks a permanent injunction, disgorgement of funds received from Defendants’ illegal conduct, and civil penalties,” said a court document filed on Thursday. The court case takes aim at both Blockvest, and its founder, Reginald Buddy Ringgold III, also known as Rasool Abdul Rahim El. The Securities and Exchange Commission put the brakes on Blockvest in October 2018. The following....
Related News
A court in Ekaterinburg, Russia has effectively lifted the ban to Bitcoin-related websites blocked in January by authorities. The Sverdlovsk Oblast court has accepted the appeal of the blocked sites and dismissed the demands of the prosecutor’s office to leave the ban in place. The Bitcoin community in Russia feels that it efforts to win the struggle have paid off. The founder of BTCsec.com, Ivan Tikhonov, called the court decision “a victory for the Bitcoin community, our mutual victory.” “As a participant in the process, I am very happy with the court’s decision,” Tikhonov told....
The news of Ripple’s recent partial victory against the SEC after a legal battle spanning almost three years sent a ripple of joy around the entire crypto industry. However, according to a legal expert on Twitter, Lawyer Bryan Jacoutot, the victory might be short-lived as SEC has enough grounds to appeal the decision and drag this thing out for a lot longer. The SEC’s Lawsuit Against Ripple Labs The SEC filed a lawsuit against Ripple Labs in December 2020, alleging that Ripple had conducted an unregistered securities offering worth over $1.3 billion through the sale of XRP.....
Although the legal battle between Ripple and the SEC isn’t officially over, the payments technology company has gone ahead to host a party to celebrate its partial win in court. After the court win, Ripple’s founder and CEO Brad Garlinghouse announced on social media a September 29 date for what was called a “Victory Party.” […]
PRESS RELEASE. Coinrule – a hyper-growth, automated trading platform based out of London, UK – is poised for explosive growth in the months ahead, after announcing that its recent investment round on Seedrs secured over 200% of its target, raising $700k, at a valuation of $6m. This funding will allow Coinrule to grow the team, expand into the fast-growing market of tokenised stock trading, and deliver a ‘market leading backtesting tool’, all aimed at furthering their mission of democratizing access to finance. 2020 has been an extraordinary year in crypto, with a....
The outlook is grim for the Canadian messaging app as it loses $5 million over its ICO for Kin tokens. On Wednesday, the U.S. Securities and Exchange Commission announced the end of its lawsuit against Kik Interactive.The Canadian messenger app fell afoul of the U.S. regulator for failing to treat its sale of KIN tokens as a securities offering. A district judge confirmed the SEC's view at the end of September, but only today did the court see the final judgment. As a result of today's judgment, Kik will need to pay the SEC $5 million in penalties and keep the commission posted as to any....