PLS Archives - Coin Engineer https://coinengineer.net/blog/tag/pls/ Btc, Coins, Pre-Sale, DeFi, NFT Wed, 23 Apr 2025 08:17:50 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://coinengineer.net/blog/wp-content/uploads/2024/04/cropped-Coin-Engineer-Logo-Favicon-2-32x32.png PLS Archives - Coin Engineer https://coinengineer.net/blog/tag/pls/ 32 32 SEC Won’t Refile Fraud Case Against Richard Heart! https://coinengineer.net/blog/sec-wont-refile-fraud-case-against-richard-heart/ https://coinengineer.net/blog/sec-wont-refile-fraud-case-against-richard-heart/#respond Wed, 23 Apr 2025 09:00:15 +0000 https://coinengineer.net/blog/?p=40671 The U.S. Securities and Exchange Commission (SEC) has announced it will not refile its fraud case against Richard Schueler, better known as Richard Heart, founder of Hex. In an April 21 letter to Judge Carol Bagley Amon, SEC attorney Matthew Gulde stated: “The Commission does not intend to file an amended complaint in this matter.”

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]]> The U.S. Securities and Exchange Commission (SEC) has announced it will not refile its fraud case against Richard Schueler, better known as Richard Heart, founder of Hex. In an April 21 letter to Judge Carol Bagley Amon, SEC attorney Matthew Gulde stated: “The Commission does not intend to file an amended complaint in this matter.”

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The case was previously dismissed on February 28, after Judge Amon ruled that Heart’s activities were not explicitly targeted at U.S. investors, thus falling outside the SEC’s jurisdiction.

SEC

Heart Declares Victory Over SEC

Heart took to X (formerly Twitter) on April 22 to announce that HEX, PulseChain, and PulseX had fully defeated the SEC. He described the case dismissal as a major win for open-source software, cryptocurrency, and free speech, noting that “the SEC actually sued software code itself in this case.”

The SEC originally sued Heart in July 2023, alleging he raised over $1 billion through unregistered securities offerings via HEX, PulseChain (PLS) and PulseX (PLSX).

Despite Interpol issuing a Red Notice for Heart in December 2024, and allegations of tax evasion in Finland, the case has now been dropped without further filings—marking one of the rare complete losses for the SEC in crypto litigation.

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]]> https://coinengineer.net/blog/sec-wont-refile-fraud-case-against-richard-heart/feed/ 0 SEC Sues Richard Heart in Finland! https://coinengineer.net/blog/sec-sues-richard-heart-in-finland/ https://coinengineer.net/blog/sec-sues-richard-heart-in-finland/#respond Wed, 13 Dec 2023 09:51:13 +0000 https://coinengineer.io/blog/?p=8105 SEC (The U.S. Securities and Exchange Commission) has reported that it has served process on HEX founder Richard Schueler, also known as Richard Heart, at his home in Helsinki, the capital of Finland. According to a filing in the U.S. District Court for the Southern District of New York on December 11, the SEC served

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]]> SEC (The U.S. Securities and Exchange Commission) has reported that it has served process on HEX founder Richard Schueler, also known as Richard Heart, at his home in Helsinki, the capital of Finland. According to a filing in the U.S. District Court for the Southern District of New York on December 11, the SEC served process on Heart on October 31 through a substitute service of process. This method is an alternative that is used when service cannot be made directly to the defendant due to difficulties in locating the defendant.

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SEC

SEC ‘s Allegations Against Richard Heart

The SEC sued Heart in July, alleging that he made over $1 billion in profits from products called HEX, PulseChain (PLS), and PulseX (PSLX), which the agency alleges are unregistered securities.

What is PulseChain?

PulseChain is a blockchain project developed by Richard Schueler that offers a new approach to the crypto space. PulseChain coin is the native cryptocurrency of this network.

Heart’s Inaccessibility and Online Activity

The SEC noted that Heart has continued to be active online, despite keeping his location tightly concealed. Since the SEC’s status report in November, Heart has made over 40 Twitter posts about various crypto-related events.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube and Twitter channels for the latest news and updates.

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