Judge Sides With U.S. SEC in Case Alleging Defunct Mobile Wallet Platform Rivetz Sold Unregistered Securities
The Securities and Exchange Commission (SEC) has reached an agreement with Steven Sprague, the CEO of Rivetz, regarding injunctive and monetary relief. According to Judge Mark Mastroianni, the SEC will confer with Sprague and file a proposed judgment by October 22, 2024. Sprague will then have until November 5, 2024, to file any objections to the proposed judgment.
This agreement marks a significant development in the ongoing legal proceedings involving Rivetz and the SEC. Sprague’s cooperation in reaching a settlement demonstrates a willingness to resolve the matter amicably and move forward.
Rivetz, a prominent player in the cryptocurrency industry, has been the subject of regulatory scrutiny in recent years. The agreement between Sprague and the SEC is expected to provide clarity and closure to the issues at hand, allowing both parties to focus on their respective goals and objectives.
As the deadline for filing objections approaches, stakeholders will be closely monitoring the situation to see how it unfolds. The outcome of this agreement could have far-reaching implications for Rivetz, Sprague, and the broader cryptocurrency industry as a whole.
