Hex Founder Richard Heart Claims Victory as SEC Abandons Fraud Lawsuit
Richard Heart claims to have "defeated the SEC completely" after the U.S. regulator abandoned its fraud lawsuit against him. The SEC had accused Heart of selling unregistered securities and misleading investors. A federal judge dismissed the case in February, stating the SEC failed to prove Heart's statements targeted American consumers. The SEC was set to file an amended complaint by April 21 but confirmed it would abandon the case. Heart asserts this outcome provides "regulatory clarity" for his projects, HEX, PulseChain, and PulseX. He emphasizes that this is a unique victory for cryptocurrency, as the court dismissed all SEC claims. Recently, the SEC has dropped investigations against other crypto firms, coinciding with a change in leadership to Paul Atkins, who plans a less aggressive regulatory approach. Despite this legal victory, Heart faces an Interpol red notice for tax fraud and assault charges. HEX's value has increased by 12.7% in the past 24 hours and 49% over the past week.
