The SEC abandons the lawsuit against the founder of Hex

Odaily News The U.S. SEC has confirmed that it will no longer refile charges against Hex founder Richard Heart (real name Richard Schueler), who was previously accused of the illegal issuance of three encryption assets: HEX, PulseChain, and PulseX. The court had previously dismissed the SEC lawsuit, stating that it failed to prove that Heart targeted American investors. The SEC subsequently abandoned its effort to submit a revised complaint before the deadline. Heart stated that he has won the case comprehensively, calling it a victory for encryption, open-source software, and freedom of speech. He pointed out that the SEC's lawsuit even targeted "the software code itself." The SEC once accused Heart of illegally raising over $1 billion and issued an international arrest warrant for him in Finland. Currently, the price of HEX has dropped 76% from its peak in December 2024. This year, the SEC has withdrawn several cryptocurrency-related cases. (Cointelegraph)