An interesting turn in the crypto world. The SEC has just dropped the entire case against Richard Heart and his projects HEX, PulseChain, and PulseX. The court had already dismissed the original charges earlier, and now the regulator has officially stated that it will not file an amended complaint. The case had been ongoing since July 2023, when the SEC accused Richard Heart of selling unregistered securities and claimed that he raised more than $1 billion from investors. Regulators also talked about allegedly stolen $12 million that was supposed to go toward sports cars, watches, and the famous 555-carat black diamond called “Zagadką.”

Heart immediately announced a complete victory. In his view, this is the only case where the SEC lost across the board, with every single claim rejected. He believes this outcome provides his projects with regulatory clarity that almost no other token in the market has. The judge dismissed the complaint on February 28, giving the SEC time until March 20 to amend it, and the deadline was extended to April 21. Now, the regulator has decided not to take any further action.

Interestingly, Richard Heart emphasized that the SEC essentially sued the software code itself, which he says shows how absurd the entire case is. For him, it’s a precedent in the industry.

But here’s the catch. Throughout the legal battle, HEX performed terribly. The token is down 99.6% from its peak of $0.5108 and is currently trading at only 0.2% of its historical peak value. However, since the case was resolved, we’ve seen a return of interest. In the past 24 hours, HEX is up 14%, in the last week up 50%, and over the last year up 30%.

The court ruling is undoubtedly a win for Richard Heart, but the token’s price shows just how long and costly this battle was. For market observers, it’s an intriguing case at the intersection of law and blockchain technology.