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SEC charges Richard Heart, founder of Hex, for misappropriating millions in $1 billion crypto raise
Richard Heart, the founder of the controversial cryptocurrency project Hex, has been charged by the SEC for conducting unregistered crypto asset security offerings, misappropriating funds, and fraudulently selling the security.
The SEC alleges that Heart raised over $1 billion from investors and evaded securities laws by asking them to "sacrifice" crypto assets instead of investing. It is claimed that Heart spent some of the investors' funds on luxury items, including sports cars and a large diamond.
The SEC is seeking various forms of relief, including disgorgement of ill-gotten gains and penalties. The outcome remains uncertain, but historically, unregistered token offerings have settled for smaller amounts. The SEC charges are civil, and it's unclear if the Department of Justice will pursue criminal charges.
#hex #sec #Binance #crypto
The SEC alleges that Heart raised over $1 billion from investors and evaded securities laws by asking them to "sacrifice" crypto assets instead of investing. It is claimed that Heart spent some of the investors' funds on luxury items, including sports cars and a large diamond.
The SEC is seeking various forms of relief, including disgorgement of ill-gotten gains and penalties. The outcome remains uncertain, but historically, unregistered token offerings have settled for smaller amounts. The SEC charges are civil, and it's unclear if the Department of Justice will pursue criminal charges.
#hex #sec #Binance #crypto
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Hicks Trust offers brokerage and trading services with a new license in Dubai
Although granted on April 26, Hex Trust's additional virtual asset service provider license remains suspended due to pending regulatory requirements, as set out in the Dubai Virtual Asset Regulatory Authority (VARA) public registry.
Hicks Trust offers brokerage and trading services with a new license in Dubai
local news
The company announced on June 5 that institutional crypto custodian Hex Trust has obtained an additional Virtual Asset Service Provider (VASP) license from Dubai's digital assets regulator, extending the full market authorization of its arm.
The Dubai Virtual Assets Regulatory Authority (VARA) has authorized HT Markets MENA (HEX Trust) FZE to provide brokerage, trading, management and investment services to institutional and qualified investors, the announcement said.
These licensed activities also include regulated staking services.
However, the permit, which was initially issued on April 26, is still pending, according to the public registry of the Dubai Virtual Assets Regulatory Authority. The company will still need to meet some regulatory requirements for the license to be active, similar to the OKX virtual asset service provider license.
#hex #BTC
Although granted on April 26, Hex Trust's additional virtual asset service provider license remains suspended due to pending regulatory requirements, as set out in the Dubai Virtual Asset Regulatory Authority (VARA) public registry.
Hicks Trust offers brokerage and trading services with a new license in Dubai
local news
The company announced on June 5 that institutional crypto custodian Hex Trust has obtained an additional Virtual Asset Service Provider (VASP) license from Dubai's digital assets regulator, extending the full market authorization of its arm.
The Dubai Virtual Assets Regulatory Authority (VARA) has authorized HT Markets MENA (HEX Trust) FZE to provide brokerage, trading, management and investment services to institutional and qualified investors, the announcement said.
These licensed activities also include regulated staking services.
However, the permit, which was initially issued on April 26, is still pending, according to the public registry of the Dubai Virtual Assets Regulatory Authority. The company will still need to meet some regulatory requirements for the license to be active, similar to the OKX virtual asset service provider license.
#hex #BTC
The SEC is Suing HEX and PulseChain creator Richard Heart.
😢 He allegedly used at least $12 million in investor funds to purchase "exorbitant luxury goods," including a 555-karat black diamond called The Enigma, worth roughly $4.3 million, the suit claims. His other alleged splurges included a $1.38 million Rolex watch, a $534,916 McLaren sports car and a $314,125 Ferrari Roma, according to the complaint.
#sec #hex #pulsechain #sued #cryptoonindia
😢 He allegedly used at least $12 million in investor funds to purchase "exorbitant luxury goods," including a 555-karat black diamond called The Enigma, worth roughly $4.3 million, the suit claims. His other alleged splurges included a $1.38 million Rolex watch, a $534,916 McLaren sports car and a $314,125 Ferrari Roma, according to the complaint.
#sec #hex #pulsechain #sued #cryptoonindia
▪️Richard Heart’s PulseChain is live after waiting for a long time. It took 2 years and after token HEX went down -27%.
#hex #pulsechain #crypto2023 #crypto2023
#hex #pulsechain #crypto2023 #crypto2023
