Federal Judge Dismisses SEC Lawsuit Against Richard Heart Due to Jurisdiction Issues
A federal judge dismissed the SEC lawsuit against Richard Heart, founder of HEX, PulseChain, and PulseX. Key points from the ruling include:
- The SEC lacked jurisdiction as the project did not specifically target U.S. investors.
- Judge Carol Bagley Amon stated that communications were “untargeted, globally available information.”
- The SEC failed to prove intentional engagement with the U.S. market.
- Participation of U.S. persons alone does not confer jurisdiction without evidence of transactions occurring in the U.S.
- The SEC may appeal or amend its complaint within 20 days.