Judge Dismisses SEC Case Against Owner of 555-Carat Diamond (1)

A federal judge in Brooklyn, New York, on Friday dismissed a lawsuit brought by the US Securities and Exchange Commission against a crypto founder accused of illegally using millions of dollars in investor funds to buy a 555-carat black diamond known as “The Enigma.”

The dismissal of the 2023 lawsuit against Richard Heart, founder of the Hex token, comes at the end of a week that has redefined the regulatory climate in which digital assets operate.

Read: SEC ‘Demolition’ of Crypto Enforcement Met With Cheers and Jeers

The SEC had accused Heart, who also uses the last name Schueler, of ...