{"id":37583,"date":"2025-03-01T14:00:56","date_gmt":"2025-03-01T11:00:56","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=37583"},"modified":"2025-03-01T14:00:08","modified_gmt":"2025-03-01T11:00:08","slug":"sec-dismisses-lawsuit-against-hex-founder-richard-heart","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/sec-dismisses-lawsuit-against-hex-founder-richard-heart\/","title":{"rendered":"SEC Dismisses Lawsuit Against HEX Founder Richard Heart"},"content":{"rendered":"<p>According to <a href=\"https:\/\/coinengineer.net\/blog\/bitcoin-and-cryptocurrency-market-update-march-1\/\"><strong>SEC allegations, Heart<\/strong> <\/a>raised over $1 billion through three different unregistered securities offerings.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/sec-dismisses-lawsuit-against-hex-founder-richard-heart\/#Federal_Judge_Dismisses_SEC_Case_Against_Richard_Heart_Due_to_Lack_of_Jurisdiction\" title=\"Federal Judge Dismisses SEC Case Against Richard Heart Due to Lack of Jurisdiction\">Federal Judge Dismisses SEC Case Against Richard Heart Due to Lack of Jurisdiction<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/sec-dismisses-lawsuit-against-hex-founder-richard-heart\/#Federal_Judge_Rejects_SECs_Global_Jurisdiction_in_Case\" title=\"Federal Judge Rejects SEC&#8217;s Global Jurisdiction in Case\">Federal Judge Rejects SEC&#8217;s Global Jurisdiction in Case<\/a><\/li><\/ul><\/nav><\/div>\n<h2 data-start=\"0\" data-end=\"82\"><span class=\"ez-toc-section\" id=\"Federal_Judge_Dismisses_SEC_Case_Against_Richard_Heart_Due_to_Lack_of_Jurisdiction\"><\/span>Federal Judge Dismisses SEC Case Against Richard Heart Due to Lack of Jurisdiction<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-start=\"84\" data-end=\"355\">A federal judge has dismissed the<strong> U.S. Securities and Exchange Commission&#8217;s (SEC)<\/strong> lawsuit against Richard Heart, the founder of <strong>HEX, PulseChain, and PulseX<\/strong>, citing the SEC&#8217;s failure to prove jurisdiction over the project, which did not specifically target U.S. investors.<\/p>\n<p data-start=\"357\" data-end=\"717\"><strong>Judge Carol Bagley Amon<\/strong> noted in her ruling that the SEC did not provide sufficient evidence to suggest that Heart&#8217;s online announcements were aimed at a U.S. audience, emphasizing that the communications were intended for a global audience. Furthermore, the court found that the participation of U.S. investors did not establish SEC jurisdiction in this case.<\/p>\n<h2 data-start=\"719\" data-end=\"774\"><span class=\"ez-toc-section\" id=\"Federal_Judge_Rejects_SECs_Global_Jurisdiction_in_Case\"><\/span>Federal Judge Rejects SEC&#8217;s Global Jurisdiction in Case<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-start=\"776\" data-end=\"1268\">The court stated that merely claiming a small number of U.S. investors participated in the project was insufficient to prove jurisdiction. <strong>The SEC<\/strong> has the option to appeal or amend the ruling within 20 days. This decision could represent a significant turning point in the broader regulatory landscape, raising more questions about the interaction between global crypto projects and U.S.-based regulations. It may serve as an important precedent for crypto projects operating outside the U.S.<\/p>\n<p data-start=\"1270\" data-end=\"1407\">The court also emphasized that <strong>Heart&#8217;s projects did not trade on U.S. exchanges<\/strong>, and therefore should not be subject to U.S. regulations.<\/p>\n<p data-start=\"1409\" data-end=\"1572\"><strong>The SEC&#8217;s<\/strong> failure in this case could provide valuable insights into how non-U.S. projects will handle jurisdictional and regulatory issues in future similar cases.<\/p>\n<p data-start=\"1574\" data-end=\"1685\" data-is-last-node=\"\" data-is-only-node=\"\">This ruling could mark a defining moment in shaping global regulatory frameworks for the cryptocurrency sector.<\/p>\n<hr \/>\n<p data-start=\"1574\" data-end=\"1685\" data-is-last-node=\"\" data-is-only-node=\"\"><em>Also, in the comment section, you can freely share your comments and opinions about the topic. Additionally, don\u2019t forget to follow us on\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>Telegram<\/strong><\/a>,\u00a0<a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>YouTube<\/strong><\/a>\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Twitter<\/strong><\/a> for the latest <a title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a> and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to SEC allegations, Heart raised over $1 billion through three different unregistered securities offerings. Federal Judge Dismisses SEC Case Against Richard Heart Due to Lack of Jurisdiction A federal judge has dismissed the U.S. Securities and Exchange Commission&#8217;s (SEC) lawsuit against Richard Heart, the founder of HEX, PulseChain, and PulseX, citing the SEC&#8217;s failure<\/p>\n","protected":false},"author":29,"featured_media":37584,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[11119,2937,12334,2935,2936,12332,12333],"class_list":["post-37583","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-heart","tag-hex","tag-judge-carol-bagley-amon","tag-pulsechain","tag-pulsex","tag-sec-allegations","tag-u-s-securities-and-exchange-commissions-sec"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SEC Dismisses Lawsuit Against HEX Founder Richard Heart - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/sec-dismisses-lawsuit-against-hex-founder-richard-heart\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SEC Dismisses Lawsuit Against HEX Founder Richard Heart - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"According to SEC allegations, Heart raised over $1 billion through three different unregistered securities offerings. Federal Judge Dismisses SEC Case Against Richard Heart Due to Lack of Jurisdiction A federal judge has dismissed the U.S. Securities and Exchange Commission&#8217;s (SEC) lawsuit against Richard Heart, the founder of HEX, PulseChain, and PulseX, citing the SEC&#8217;s failure\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coinengineer.net\/blog\/sec-dismisses-lawsuit-against-hex-founder-richard-heart\/\" \/>\n<meta property=\"og:site_name\" content=\"Coin Engineer\" \/>\n<meta property=\"article:published_time\" content=\"2025-03-01T11:00:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-03-01T11:00:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/03\/heart_ce.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Emre Yumlu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Emre Yumlu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/coinengineer.net\/blog\/sec-dismisses-lawsuit-against-hex-founder-richard-heart\/\",\"url\":\"https:\/\/coinengineer.net\/blog\/sec-dismisses-lawsuit-against-hex-founder-richard-heart\/\",\"name\":\"SEC Dismisses Lawsuit Against HEX Founder Richard Heart - 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