The American Securities and Exchange (SEC) commission has officially announced that it would not pursue legal proceedings against Richard Schueler, better known as Richard Heart, founder of Hex, Pulsechain and Pulsex.
In a letter dated April 21, SEC lawyer Matthew Gulde informed the judge of the District Court of New York, Carol Bagley Amon, that the regulator would not file a modified complaint following the previous rejection by the court of his case.
Judge Amon had rejected the initial SEC complaint on February 28, citing a lack of jurisdiction, because the activities of heart were deemed specifically directed against American investors.
The dry refuses to refresh the case despite the expansion deadline
Although the SEC has obtained an extension to the passage by April 21, it chose to completely abandon the case.
Heart celebrated the decision on social networks, declaring that Hex, Pulsechain, Pulsex and himself had “completely defeated the dry”, saying that this result provided a regulatory clarity rarely obtained by other cryptocurrencies.
Heart stressed that if the SEC voluntarily withdrew from other cryptographic affairs, hers was unique because “the dry lost and the crypto won in all areas”, all the complaints rejected in court.
He supervised victory as a victory for open source software, cryptocurrency innovation and freedom of expression, noting that the SEC had a software code controversially in his trial.
The SEC initially filed accusations against the heart in July 2023, accusing it of having made values of securities not recorded via Hex, Pulsechain (PLS) and Pulsex (PSLX).
The regulator allegedly alleged that the heart had collected more than a billion dollars by promoting tokens like a bridge towards immense wealth.
The heart countered in April 2024 by contesting the authority of the dry, arguing that its non-American residence pleases it beyond the scope of the regulator.
The SEC responded by highlighting its promotional activities in the United States, including an event in Las Vegas.
Meanwhile, Heart faced additional legal pressure when Interpol issued a red opinion in December 2024, asking for his arrest in Finland on suspicions of tax evasion.
The American court rejects the dry trial
Last month, an American district court rejected the SEC trial against Heart, judging that the agency did not have jurisdiction over its alleged activities.
The judge noted that alleged misconduct occurs through digital wallets and cryptographic platforms without clear ties with the United States.
The sec had classified hex (hex), pulsechain (PLS) and Pulsex (PLSX) as titles not recorded in its complaint.
Despite the recent legal victories, Hex had a hard time on the market, plunging 76% compared to its December 2024 peak by $ 0.031, reflecting a broader weakness of the Altcoin in the middle of Bitcoin domination.
As indicated, Finnish officials managed to grasp around $ 2.6 million in luxury watches he would have abandoned.
Schueler is wanted in Finland for alleged accusations of tax evasion and aggression, the authorities find it difficult to locate his fate.
The post-dry fall plan to refuse a case of securities fraud against the founder of Hex, Richard Heart, appeared first on Cryptonews.
