The Securities and Exchange Commission is going after a company that claimed the regulator gave its blessing to a planned initial coin offering.

It didn’t, and now the SEC wants a federal court to issue an emergency order blocking that ICO. Regulators get rather testy when you use them for alleged criminal activity.

In addition, according to an SEC statement, Blockvest LLC and its founder, Reginald Buddy Ringgold, III, “were using the SEC seal without permission, a violation of federal law, and falsely claiming their crypto fund was ‘licensed and regulated.'”

Judge Gonzalo P. Curiel of the U.S. District Court for the Southern District of California issued an order to freeze Blockvest’s and Ringgold’s assets. A hearing is scheduled for Oct. 18 to consider continuing the asset freeze and issuance of a preliminary injunction.

ThirtyK Staff
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