The U.S. Securities and Exchange Commission (SEC) has obtained an emergency court order issuing the stoppage of a recently planned initial coin offering (ICO) by Blockvest LLC and its founder Reginald Buddy Ringgold III, who falsely advertised that the token sale was approved by the SEC. According to the SEC, Blockvest has repeatedly violated both anti-fraud and securities registration provisions by incorrectly claiming that its ICO had obtained regulatory approval from Commission officials. The order further states that Ringgold — who also works under the name Rasool Abdul Rahim El — was using the SEC seal without the organization’s permission. In addition, the SEC says that Ringgold often touted the ICO as being “licensed and regulated,” and that he promoted the event through a false agency known as the “Blockchain Exchange Commission,” which used graphics similar to the SEC seal and boasted the same address as the SEC’s headquarters. Robert A. Cohen, chief of the SEC Enforcement Division’s Cyber Unit, comments, “We allege that this ICO is using both the SEC seal and a made-up crypto regulatory authority to trick investors into believing the ICO was approved by regulators. The SEC does not endorse investment products, and investors should be highly skeptical of any claims suggesting otherwise.” Furthermore, Ringgold is being accused of misrepresenting Blockvest’s alleged ties to the National Futures A... For Further Information Click on Below Button