SEC Case Dismissed Against Hex Founder

US Court Dismisses SEC Case Against Richard Heart

• The US District Court for the Eastern District of New York dismissed the SEC’s lawsuit against Richard Heart.
• The dismissal was due to a lack of personal jurisdiction, as Heart’s activities were global, not specifically targeted at the US.
• The court found that the SEC failed to prove that Heart’s crypto transactions qualified as domestic under US securities laws.
• Fraud claims related to PulseChain were dismissed because alleged activities occurred outside the US.

The court concluded that Richard Heart’s marketing and sales activities did not establish jurisdiction in the US, leading to the dismissal of all SEC claims against him and his projects.