Richard Heart Secures Full Dismissal of SEC Claims Over Crypto Projects

Richard Heart, the controversial founder of HEX, PulseChain, and PulseX, has achieved a decisive legal victory against the U.S. Securities and Exchange Commission. A federal judge dismissed all allegations that Heart raised $1 billion through unregistered securities offerings and misused investor funds for personal luxuries.

The Eastern District of New York’s ruling represents a significant setback for SEC enforcement efforts in crypto. Judge Carol Bagley Amon found the agency lacked jurisdiction over Heart’s open-source projects, which the SEC had controversially labeled as the entrepreneur’s "alter egos."

This outcome may embolden other crypto developers facing regulatory scrutiny. The decision underscores ongoing tensions between innovation and securities law interpretation in decentralized finance.