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.
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