A U.S. federal judge dismissed a lawsuit by the Securities and Exchange Commission (SEC) against Richard Heart, founder of the Hex cryptocurrency. The SEC had accused Heart of raising over $1 billion through unregistered crypto offerings and misusing $12.1 million for luxury purchases, including the world's largest black diamond. The judge cited a lack of sufficient ties between Heart's alleged actions and the United States as the reason for the dismissal.
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A U.S. federal judge dismissed a lawsuit by the Securities and Exchange Commission (SEC) against Richard Heart, founder of the Hex cryptocurrency. The SEC had accused Heart of raising over $1 billion through unregistered crypto offerings and misusing $12.1 million for luxury purchases, including the world's largest black diamond. The judge cited a lack of sufficient ties between Heart's alleged actions and the United States as the reason for the dismissal.