New York, United States / NY, April 25, 2025, Chainwire
The Landmark decision marks major victory for cryptocurrency, open source innovation and freedom of expression
In a radical legal victory, the serial entrepreneur, author and philanthrope Richard Heart won the complete rejection of all the complaints against him by the Securities and Exchange Commission (SEC).
US District Judge Carol Bagley Amon granted Richard Heart's request to rejection on February 28, 2025. The SEC had until Monday, April 21 to modify his complaint and finally announced “he does not intend to file a modified complaint in this case”. These events completely erased the heart and its blockchain products – Hex, Pulsechain and Pulsex – allegations according to which they constituted unregistered titles and also rejects the affirmations that the heart used investor funds.
“Richard Heart, Pulsechain, Pulsex and Hex have completely defeated the dry and have reached the regulatory clarity that almost no other piece has. They are now safer to work in a way that almost no other room is found. —Comments de Twitter / X by Richard Heart on the news on Monday.
Legal analysts consider the decision to be a decisive blow to the vast strategy for applying the CRIA CLI cryptography – increasingly criticized for regulatory surpassing and reprimanded several times by the courts as arbitrary and capricious.
The SEC brought an action in July 2023, accusing the heart of lifting more than a billion dollars thanks to unregistered offers and spending millions of personal luxury. In an unusual legal approach, the SEC also named its open source cryptographic products – Hex, Pulsechain and Pulsex – as a co -feemers, alleging that it was “alter Egos” of the heart.
Judge Carol Bagley Amon of the American district court for the Oriental District of New York rejected the arguments of the SEC in full, judging that the agency had not competence and that the offers were accessible worldwide but not specifically targeted in the United States. The court also noted any substantial link with the transactions of interior securities, declaring that the tokens had not been sold on American exchanges and that the SEC had not shown direct marketing to American investors.
The court also rejected all the allegations of FRAUD from the SEC, concluding that the agency had not shown that investors' communications were deceptive or that the alleged funds occurred in American jurisdiction. Consequently, all complaints against heart and its blockchain products have been rejected. The SEC later confirmed that it did not intend to modify or re -put its complaint, allowing the dismissal to stand up and officially close the case without any conclusion of reprehensible acts.
From the start, the heart has always argued that its products fully comply with the law. Now it's official. This is a historic victory for cryptocurrency, open source innovation and freedom of expression.
“This dismissal strengthens that publication software – in particular the Open Source Blockchain Code – is a protected speech,” said User Twitter / X @Nuclearherbs, an American lawyer who attended the audiences.
Legal analysts consider the decision to be a decisive blow to the vast strategy for applying the CRIA CLI cryptography – increasingly criticized for regulatory surpassing and reprimanded several times by the courts as arbitrary and capricious. With all rejected complaints, Hex, Pulsechain and Pulsex now have a level of legal clarity that few other tokens appreciate.
Contact
Journalist
Taylor Kennedy
Freelance
Tldtaylor@protonmail.com
