**SEC Wins Case Against Rivetz Corp Over Unregistered ICO**

The SEC has secured another victory in its crackdown on unregistered ICOs, this time against Rivetz Corp and its CEO, Steven Sprague. On September 30, Massachusetts federal judge Mark Mastroianni ruled that Rivetz's Ethereum-based RvT tokens were unregistered securities.

The SEC's 2021 lawsuit claimed Rivetz sold $18 million worth of tokens to over 7,200 investors, a third of whom were in the US. Sprague argued the tokens were software products, not securities, but the judge disagreed, citing that the tokens' value hinged on Rivetz's efforts to create a mobile security ecosystem.

The SEC must now propose injunctive and monetary relief by October 22. This follows a similar partial win against Opporty International on September 24.