SEC drops securities fraud case against Hex founder Richard Heart

The American Securities and Exchange committee officially ended its legal battle with the founder of Hex Richard Schueler, widely known as Richard Heart.

In a letter to the judge of the New York District Court, Carol Bagley Amon, what a heart common On X, the SEC said that it “does not intend to file a modified complaint”, allowing the dismissal of the previous court.

As before covered On Crypto.News, the SEC had continued the heart in July 2023, accusing it of lifting more than a billion dollars thanks to offers of non -recorded securities linked to its Crypto, Hex (Hex), Pulsechain (PLS) and Pulsex (PSLX) projects.

Heart was also accused of using investor funds for personal luxury purchases, including high -end watches and cars, while he has promoted his project tokens as paths to “grandiose wealth”.

The case took a tour in February when the judge of the District Court Amon Throw the complaintAffirming that the SEC could not prove that the actions of the heart specifically targeted American investors. Although the regulator had time to modify and cool off, he has now chosen to completely move away from the case.

The committee’s decision is not surprising, because the dry, under the new Trump administration, has abandoned several high level cases against cryptographic companies, including Coinbase, Krakenand consensys. Since the departure of former President Gary Gensler in January, the agency has regularly reduced its dispute efforts targeting the cryptography sector.

Heart celebrated the dismissal, saying that Hex, Pulsechain and Pulsex had “completely defeated the dry” and won a level of “regulatory clarity that almost no other piece has”.

“This is a victory for open source software, cryptocurrency and freedom of expression,” he said, adding that the affair “would have established a terrible previous one and perhaps caused several billion dollars of damage to the Vitale Open Source and the free software industry that feeds most of the Internet.”

But while the heart can be out of the dry radar, it is always on that of Interpol. He was added to the agency’s list of red opinions in December 2024, the Finnish authorities requesting his arrest concerning charges of tax evasion covering almost four years, and an allegation of aggression involving a 16 -year -old.

At the time of the press, the red opinion Remains activeAnd Heart’s name still appears on the most sought after list in Europe.