The US Securities and Exchange Commission (SEC) has announced that it will not refile its securities fraud complaint against Hex founder Richard Schueler, also known as Richard Heart. This decision comes after the court dismissed the SEC’s original complaint on February 28 due to a lack of jurisdiction over Heart’s activities not specifically targeted at US investors. Judge Carol Bagley Amon granted the SEC the opportunity to file an amended complaint by April 21, a deadline that was later extended. Heart claimed victory on April 22, stating that he, along with PulseChain, PulseX, and HEX, have achieved regulatory clarity unlike most other coins. He emphasized that this case marked a win for cryptocurrency against the SEC’s claims. The SEC had initially sued Heart in July 2023 for alleged unregistered securities offerings of three tokens, HEX, PulseChain (PLS), and PulseX (PSLX), accusing him of making over $1 billion. Heart contested the suit in April 2024, arguing that the SEC had no authority over him as a non-resident of the US. The SEC opposed this claim, alleging that Heart promoted the tokens at a Las Vegas event. In December 2024, Interpol issued a Red Notice for Heart, seeking his arrest in Finland for suspected tax evasion. The native token of PulseChain (HEX) reached an all-time high in December 2024 but has since dropped by 76%. The SEC has suspended or dropped several cases against crypto firms this year under the Trump administration, hinting at a changing regulatory landscape.