Bloomberg Law
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Law
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

SEC Halts ICO Touting OK From Fake ‘Blockchain Commission’ (1)

Oct. 11, 2018, 3:32 PM

The SEC filed a lawsuit to stop a planned ICO launch by a company that falsely claimed it had already obtained approval from regulators, including the fictitious “Blockchain Exchange Commission.”

Blockvest LLC claimed it received regulatory approvals for its fundraising from the Securities and Exchange Commission and other agencies, including the phony blockchain regulator, the SEC said in an Oct. 11 statement. The Blockchain Exchange Commission’s LinkedIn page lists the same address as the SEC’s Washington headquarters, and the entity’s two employees include Blockvest’s founder, Reginald Buddy Ringgold, III, who is also charged in the SEC’s complaint filed in ...