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SEC Drops Case Against HEX Founder Richard Heart
On April 23, 2025, a significant legal victory was achieved by Richard Heart, the founder of HEX, PulseChain, and PulseX, as a U.S. federal court dismissed the Securities and Exchange Commission’s (SEC) case against him due to jurisdiction issues in New York. This dismissal may have far-reaching implications for cryptocurrency developers targeting non-U.S. markets.
The SEC had accused Richard Heart’s projects of involvement with unregistered securities, but failed to provide evidence suggesting they targeted U.S. investors specifically. The court’s ruling has granted a significant legal victory, which could alter the landscape for international blockchain ventures and potentially influence market sentiment.
Heart emphasized the project-wide implications of this dismissal across global borders. His initiatives, HEX, PulseChain, and PulseX, are engaged in substantial blockchain endeavors. The SEC’s allegations have yet to be substantiated by concrete evidence, suggesting that the focus was not on U.S. investors.
The court’s decision may foster optimism among non-U.S. crypto developers. However, the potential for a future SEC appeal could affect investment sentiments temporarily within these markets. Without immediate financial repercussions, HEX, PulseChain, and PulseX maintain their operations.
Historically, similar cases have resulted in brief market rallies dependent on long-term regulatory outcomes and exchange relistings. In light of this development, experts from Kanalcoin highlight that this case’s dismissal could influence regulatory frameworks, mirroring past incidents involving global operations that challenged national jurisdiction interpretations in cryptocurrency contexts.
“I appreciate Judge Amon’s careful ruling which has dismissed all of the SEC’s claims against me. This type of victory over the SEC is quite rare. PulseChain, PulseX and HEX are not securities and should be allowed to flourish. HEX has operated flawlessly for over 5 years,” Richard Heart, Founder, HEX/PulseChain/PulseX
Source: https://www.kanalcoin.com/sec-drops-hex-case/
