法官裁定 Rivetz (RvT) 代币销售是未注册的证券发行

一名联邦法官做出了对美国证券交易委员会 (SEC) 对 Rivetz Corp 及其首席执行官有利的裁决

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).

一名联邦法官就 Rivetz Corp 及其首席执行官 Steven Sprague 2017 年首次代币发行 (ICO) 事宜做出了有利于美国证券交易委员会 (SEC) 的裁决。

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

该裁决的结论是，该公司出售基于以太坊的 Rivetz (RvT) 代币构成未注册的证券发行。

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 与 Sprague 合作确定必要的救济措施。这可能包括经济处罚或其他行动。截止日期定为 10 月 22 日。

The outcome may influence other cases involving unregistered token sales.

结果可能会影响涉及未注册代币销售的其他案件。

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 在未注册的情况下出售 RvT 代币，违反了证券法。该公司从 7,200 多名投资者那里筹集了 1800 万美元，其中很大一部分是美国居民。 RvT 代币作为 Rivetz 计划开发的安全生态系统的一部分进行营销，但该项目仍未完成。

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 认为 RvT 代币是一种软件产品，而不是一种证券。然而，法院根据 Howey 测试发现 Rivetz 代币符合证券标准。美国证券交易委员会辩称，出售代币的预期是从公司构建平台的努力中获得利润。

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.

豪伊测试确定金融产品是否符合证券资格。在本案中，法院发现 Rivetz 将 RvT 代币宣传为与公司未来成功相关的投资。马斯楚安尼法官指出，这些代币“没有额外的用途或内在价值”，因为该公司尚未开发出承诺的安全生态系统。这表明代币的价值完全取决于 Rivetz 的进度，满足测试要求。

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.

法院强调，RvT 代币仅在以太坊区块链上充当 ERC-20 代币，除此之外没有任何用途，这强化了根据美国法律它们是证券的裁决。

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 于 2021 年 9 月对 Rivetz 和 Steven Sprague 提起诉讼。诉讼称 ICO 出售未注册的代币违反了证券法。此案是 SEC 对在 ICO 期间未能遵守美国法规的加密货币公司持续采取的行动的一部分。

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.

此案与美国证券交易委员会针对 Opporty International 采取的另一起行动类似。在那起案件中，法院认定该公司及其创始人在 ICO 期间出售了未注册的证券，筹集了 60 万美元。

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·斯普拉格尚未对法院的判决发表任何评论。法院的裁决可能会影响加密货币公司考虑 ICO 产品的未来决定。