The U.S. SEC Will Not Restart the Lawsuit Against Hex Founder
According to Cointelegraph, the U.S. SEC has confirmed that it will no longer pursue a lawsuit against Hex founder Richard Heart (real name Richard Schueler), who was previously accused of illegally issuing three cryptocurrencies: HEX, PulseChain, and PulseX. The court had previously dismissed the SEC's lawsuit, determining that it failed to prove Heart's targeted actions towards U.S. investors. The SEC subsequently decided not to file an amended complaint by the deadline. Heart declared victory, stating that it was a win for crypto, open-source software, and free speech. He noted that the SEC's charges even targeted the "software code itself." The SEC had accused Heart of illegally raising over $1 billion and issued an international arrest warrant for him in Finland. Currently, the price of HEX has fallen 76% from its high in December 2024. This year, the SEC has withdrawn multiple cryptocurrency-related cases.
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