Richard Heart, founder of HEX, PulseChain, and PulseX, has secured a significant victory in his legal battle with the U.S. Securities and Exchange Commission (SEC). The SEC has officially dropped its fraud case against Heart following a previous court dismissal. The decision marks a major win for crypto proponents as it reflects a more conciliatory regulatory approach within the sector. The SEC initially filed charges against Heart in July 2023, alleging he raised over $1 billion through unregistered securities offerings and used proceeds for personal gain. The case was dismissed in February 2025 by the U.S. District Court for the Eastern District of New York after the court found that the SEC failed to establish clear jurisdiction between Heart’s actions and the United States. This marks another victory for crypto advocates, coming amidst a string of abandoned SEC enforcement actions recently.