The United States District Court for the Southern District of California recently changed course in an enforcement action brought by the U.S. Securities and Exchange Commission (SEC) against cryptocurrency company Blockvest, LLC and its founder. In doing so, the court granted the SEC’s request to preliminarily enjoin the defendants from violating the securities laws and
Blockvest
Federal Court deals SEC a setback in Blockvest ICO litigation
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…