HEX Founder Richard Heart Gets Clean Chit As SEC Walks Away

Richard Heart – the infamous founder of HEX, PulseChain and PulseX – is celebrating a clean chit in the SEC lawsuit as the U.S. regulator is not intending to file an amended complaint on the previously dismissed case. 

While sharing a latest post on X, Heart revealed that the SEC has notified the count to not go further with the lawsuit and “does not intend to file an amended complaint” while the deadline to file an amended complaint has expired. 

“Richard Heart, PulseChain, PulseX, and HEX have defeated the SEC completely and have achieved regulatory clarity that nearly no other coins have,” he said. 

“The SEC walked away from some other cryptocurrency cases voluntarily, but this is the only case where the SEC lost and crypto won across the board, with a dismissal in court of every single claim the SEC brought,” proclaims Heart. 

After nearly two years of legal battle, this voluntary dismissal from the SEC in its case against Heart is yet another addition to the regulator’s recent withdrawals of enforcement actions against multiple cryptocurrency firms – including Ripple, Coinbase and Kraken. 

The SEC filed a lawsuit against Heart and his three entities in July 2023 for raising over $1 billion via unregistered securities offerings. Heart was also charged with fraud for misappropriating proceeds to purchase luxury goods and using funds for himself.