【SEC Wins Lawsuit Against Rivetz Corp And Its CEO For Over $18 Million In Unregistered Securities Sales】 October 1, According To Cointelegraph, The U.S. SEC Won The Lawsuit In The IC0-related Case Against Rivetz Corp And Its CEO Steven Sprague. In An Order On September 30, Massachusetts Federal Court Judge Mark Mastroianni Agreed With The SEC's Opinion That Sprague Provided Ethereum-based Rivetz (RvT) Tokens To The American People Through Rivetz, Constituting Charges Of Selling Unregistered Securities.The SEC Sued The Defunct Blockchain Hardware Company And Sprague In September 2021, Claiming That They Sold $18 Million Worth Of Rivetz Tokens To More Than 7,200 Investors In 2017, One-third Of Whom Were In The United States. Neither The SEC Nor Sprague Disputed The Important Facts Of The Case, But Sprague (representing Himself) Claimed That The Token Was A Software Product, Not An Investment Contract Under The Howey Test, Which Is The Definition Of Securities As Claimed By The SEC. But The Judge Wrote, “From The First Announcement Of The ICO Until Its Completion, Rivetz And Sprague Made Statements To Potential Purchasers That Explicitly Tied The Value Of The RvT Tokens To Rivetz’s Goal Of Creating A Secure Ecosystem For Mobile Devices.”