The Federal Trade Commission, a U.S. government agency that oversees consumer rights and invigilates the correctness of trading practices, has made huge steps, issuing a new definition of a diamond, encompassing lab-grown diamonds “Lab-Grown Diamonds Are Diamonds” – Says FTC. The Federal Trade Commission (FTC) has expanded its definition of “diamond” to include those grown in a laboratory. The FTC said. “Since then, technological advances have made it possible to create diamonds in a laboratory. These stones have essentially the same optical, physical and chemical properties as mined diamonds. Thus, they are diamonds.”

One should also qualify the word “cultured” when describing man-made stones, the commission added, as the term on its own often leads consumers to believe a diamond is mined. The commission suggests marketers use words such as “man-made,” “lab-grown” or “foundry” to qualify “cultured,” thereby avoiding confusion about a diamond’s origins. However, marketers should not use the word “synthetic” to qualify “cultured,” the FTC noted, as it creates confusion among consumers, who believe the term indicates a stone is fake or artificial.