US SEC drops lawsuit against Hex founder

Odaily News The U.S. SEC has confirmed that it will no longer re-prosecute Hex founder Richard Heart (real name Richard Schueler), having previously accused him of illegally issuing three crypto assets: HEX, PulseChain, and PulseX.
The court had earlier dismissed the SEC's lawsuit, finding that it failed to prove that Heart targeted U.S. investors. The SEC subsequently gave up on filing an amended complaint before the deadline.
Heart wrote that he had won the case comprehensively, calling it a victory for encryption, open source software, and free speech. He pointed out that the SEC's lawsuit even targeted "the software code itself."
The SEC has accused Heart of illegally raising more than $1 billion and issued an international arrest warrant for it in Finland. Currently, the price of HEX has fallen 76% from its high in December 2024. The SEC has withdrawn several crypto-related cases this year. (Cointelegraph)