📢 Richard Heart tries to dismiss SEC fraud lawsuit, $1 billion battle enters a tense state!
🚨 The U.S. Securities and Exchange Commission (SEC) recently clashed with Richard Heart in court! Heart tried to dismiss the SEC's charges of $1 billion fraud against him, but the SEC didn't agree.
📚 The SEC said in a court filing on August 22 that the digital assets promoted by Heart, such as HEX, PulseChain and PulseX, were directly targeted at U.S. investors, so his actions were completely within the jurisdiction of the United States.
💼 The SEC accused Heart of raising more than $1 billion from global investors by selling unregistered securities, and then took millions of dollars to buy luxury cars and a black diamond that he claimed was the largest in the world.
🇺🇸 Heart's lawyers argued that his activities were mainly outside the United States and were not subject to U.S. securities laws. They also said that the SEC's complaint did not provide evidence that Hart's actions in the United States had a significant impact on American investors.
🏛 But the SEC countered that Hart had made great efforts to attract American investors. He not only participated in activities in the United States, but also actively interacted with American investors online and on social media.
🚫 The SEC emphasized that Hart's actions violated key provisions of the Securities Act and the Securities Exchange Act, including the unregistered issuance and sale of securities and violations of anti-fraud provisions
👉 Now, the SEC is firmly taking legal action against Hart to hold him accountable for fraud in the digital asset field.
👤Viewpoint:
This case highlights the criticality of jurisdiction in cross-border financial regulation and the urgent need for the legal system to be updated to adapt to the challenges of emerging markets. On the one hand, the SEC's actions may increase market vigilance and have a positive impact on the long-term health of the digital asset market.
On the other hand, while promoting financial regulation, it should also ensure that innovation is not overly suppressed. At the same time, this incident is also a warning to all market participants about the necessity of conducting thorough due diligence before making investment decisions.
👇 What do you think of the battle between the SEC and Hart? Do you think the SEC can win this case? See you in the comments section!
