法官裁定 Rivetz (RvT) 代幣銷售是未註冊的證券發行

一名聯邦法官做出了對美國證券交易委員會 (SEC) 對 Rivetz Corp 及其首席執行官有利的裁決

A federal judge has ruled in favor of the United States Securities and Exchange Commission (SEC) against Rivetz Corp and its CEO, Steven Sprague, concerning their 2017 Initial Coin Offering (ICO).

一名聯邦法官就 Rivetz Corp 及其執行長 Steven Sprague 2017 年首次代幣發行 (ICO) 事宜做出了有利於美國證券交易委員會 (SEC) 的裁決。

The ruling concluded that the company’s sale of the Ethereum-based Rivetz (RvT) token constituted an unregistered securities offering.

該裁決的結論是，該公司出售基於以太坊的 Rivetz (RvT) 代幣構成未註冊的證券發行。

The court ordered the SEC to collaborate with Sprague to determine the necessary relief. This could include financial penalties or other actions. The deadline for this is set for Oct. 22.

法院命令 SEC 與 Sprague 合作確定必要的救濟措施。這可能包括經濟處罰或其他行動。截止日期定為 10 月 22 日。

The outcome may influence other cases involving unregistered token sales.

結果可能會影響涉及未註冊代幣銷售的其他案件。

In a Sept. 30 order, Judge Mark Mastroianni ruled that Rivetz and Sprague violated securities laws by selling RvT tokens without registering them. The company raised $18 million from over 7,200 investors, with a significant portion being U.S. residents. The RvT tokens were marketed as part of a security ecosystem that Rivetz planned to develop, but the project remained incomplete.

在 9 月 30 日的命令中，法官 Mark Mastroianni 裁定 Rivetz 和 Sprague 在未註冊的情況下出售 RvT 代幣，違反了證券法。該公司從 7,200 多名投資者那裡籌集了 1,800 萬美元，其中很大一部分是美國居民。 RvT 代幣作為 Rivetz 計劃開發的安全生態系統的一部分進行行銷，但該專案仍未完成。

Sprague had argued that the RvT token was a software product and not a security. However, the court found that the Rivetz token met the criteria of a security based on the Howey Test. The SEC had argued that the tokens were sold with the expectation of profit derived from the company’s efforts to build its platform.

Sprague 認為 RvT 代幣是一種軟體產品，而不是一種證券。然而，法院根據 Howey 測試發現 Rivetz 代幣符合證券標準。美國證券交易委員會辯稱，出售代幣的預期是從公司建立平台的努力中獲得利潤。

The Howey Test determines whether a financial product qualifies as a security. In this case, the court found that Rivetz promoted the RvT token as an investment tied to the company’s future success. Judge Mastroianni noted that the tokens “had no additional uses or inherent value” as the company had not yet developed the promised security ecosystem. This indicated that the token’s value was entirely dependent on Rivetz’s progress, fulfilling the test’s requirements.

豪伊測試確定金融產品是否符合證券資格。在本案中，法院發現 Rivetz 將 RvT 代幣宣傳為與公司未來成功相關的投資。馬斯楚安尼法官指出，這些代幣“沒有額外的用途或內在價值”，因為該公司尚未開發出承諾的安全生態系統。這表明代幣的價值完全取決於 Rivetz 的進度，滿足測試要求。

The court emphasized that the RvT tokens functioned only as ERC-20 tokens on the Ethereum blockchain and lacked any utility beyond this, reinforcing the finding that they were securities under U.S. law.

法院強調，RvT 代幣僅在以太坊區塊鏈上充當 ERC-20 代幣，除此之外沒有任何用途，這強化了根據美國法律它們是證券的裁決。

The SEC filed its lawsuit against Rivetz and Steven Sprague in September 2021. The lawsuit claimed that the ICO violated securities laws by selling unregistered tokens. This case is part of the SEC’s ongoing actions against crypto companies that failed to follow U.S. regulations during their ICOs.

SEC 於 2021 年 9 月對 Rivetz 和 Steven Sprague 提起訴訟。此案是 SEC 對在 ICO 期間未能遵守美國法規的加密貨幣公司持續採取的行動的一部分。

This case is similar to another SEC action against Opporty International. In that case, the court found the company and its founder had sold unregistered securities during their ICO, raising $600,000.

此案與美國證券交易委員會針對 Opporty International 採取的另一起行動類似。在那起案件中，法院認定該公司及其創始人在 ICO 期間出售了未註冊的證券，並籌集了 60 萬美元。

Steven Sprague has not provided any comments regarding the court’s decision. The court’s ruling may influence future decisions by crypto companies considering ICO offerings.

史蒂文·斯普拉格尚未對法院的判決發表任何評論。法院的裁決可能會影響加密貨幣公司考慮 ICO 產品的未來決定。