CTF Written Submission
Steven Sprague, Rivetz Corp. and Rivetz Intl.
April 23, 2025
- The court determined that the promotion of a token's functional value, not just financial value, can classify it as an investment contract.
- The court highlighted that contracts are of no value if there is any promotion, regardless of the company's involvement in secondary trading.
- The Rivetz decision implies that almost any utility token or emerging product offering can be considered an investment contract.
Last Reviewed or Updated: May 8, 2025