US SEC drops lawsuit against Hex founder

Mars Finance News: The U.S. SEC confirmed it will not refile a lawsuit against Hex founder Richard Heart (born Richard Schueler), who was previously accused 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 Heart targeted U.S. investors. The SEC subsequently abandoned filing an amended complaint before the deadline. Heart stated that he achieved a comprehensive victory, calling it a win for crypto, open-source software, and freedom of speech. He noted that the SEC's lawsuit even targeted "the software code itself". The SEC had previously accused Heart of illegally raising over $1 billion and issued an international arrest warrant against him in Finland. Currently, HEX's price has dropped 76% from its December 2024 peak. This year, the SEC has withdrawn multiple crypto-related cases. (Cointelegraph)