On November 28, 2018, the U.S. Securities and Exchange Commission's (SEC) request for a preliminary injunction against Defendants Blockvest, LLC (Blockvest) and Blockvest's founder and chairman Reginald Buddy Ringgold, III (Ringgold) was denied by United States District Court for the Southern District of California.
Blockvest and Ringgold were offering and selling unregistered securities in the form of digital assets called BLV tokens, per allegations by the SEC. Blockvest sold the tokens in an initial coin offering that, according to the SEC's complaint, began with pre-sales starting in March 2018.
To review the full report on our FinTech Update blog, click here.
This article is presented for informational purposes only and is not intended to constitute legal advice.
We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.
