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SEC says it won’t re-file fraud case against Hex’s Richard Heart

The US Securities and Exchange Commission has said it doesn’t intend to refile its securities fraud complaint against Hex founder Richard Schueler, who goes by Richard Heart.

“Plaintiff Securities and Exchange Commission provides this notice that it does not intend to file an amended complaint in this matter,” the regulator’s lawyer, Matthew Gulde, stated in an April 21 letter to New York District Court Judge Carol Bagley Amon. 

The court had previously dismissed the SEC’s original complaint on Feb. 28 as Judge Amon said the regulator failed to establish that it had jurisdiction over Heart’s activities, which she said were not specifically targeted at US investors.

She granted leave for the SEC to file an amended complaint by March 20, later extending the deadline to April 21.

Heart posted to X on April 22 that “Richard Heart, PulseChain, PulseX, and HEX have defeated the SEC completely and have achieved regulatory clarity that nearly no other coins have.”

SEC says it won’t re-file fraud case against Hex’s Richard Heart
Letter from the SEC to Judge Amon. Source: PACER

Heart added that the SEC walked away from some of its other cryptocurrency cases voluntarily, but claimed his was the only case where “the SEC lost and crypto won across the board, with a dismissal in court of every single claim the SEC brought.”

Heart said it was a victory for open-source software, cryptocurrency and free speech because the SEC “actually sued software code itself in this case.” 

SEC hunted Heart in Finland

The SEC sued Heart in July 2023 for alleged unregistered securities offerings of three tokens, HEX, PulseChain (PLS), and PulseX (PSLX), claiming he made more than $1 billion by touting the tokens as a “pathway to grandiose wealth for investors.”

In April 2024, Heart tried to have the suit tossed, claiming the regulator “has no sway over him,” because he didn’t reside in the United States. 

Related: Finnish police seize watches worth $2.6M from Hex founder Richard Heart: Report

The SEC opposed this in August, claiming he touted the tokens at a Las Vegas event. In December 2024, Interpol issued a Red Notice for Heart, seeking his arrest in Finland, where he was also suspected of tax evasion

The PulseChain native token (HEX) hit an all-time high of $0.031 in December 2024 but has since tanked 76% as most altcoins have failed to follow Bitcoin’s momentum this year. 

The SEC has dropped or suspended several cases against crypto firms so far this year under the Trump administration.

Magazine: Altcoin season to hit in Q2? Mantra’s plan to win trust: Hodler’s Digest

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Democrats probe housing regulator over considering crypto in mortgages

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Democrats probe housing regulator over considering crypto in mortgages

Democrats probe housing regulator over considering crypto in mortgages

A group of Senate Democrats has probed Federal Housing Finance Agency director William Pulte over his order to propose how to consider crypto in mortgage applications.

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Sir Keir Starmer set for Donald Trump trade talks as PM walks diplomatic line between EU allies and US on Gaza

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Sir Keir Starmer set for Donald Trump trade talks as PM walks diplomatic line between EU allies and US on Gaza

Gaza and transatlantic trade are set to dominate talks between Donald Trump and Sir Keir Starmer when the pair meet in Scotland on Monday.

Downing Street said the prime minister would discuss “what more can be done to secure the ceasefire [in the Middle East] urgently”, during the meeting at the president’s Turnberry golf course in Ayrshire.

Talks in Qatar over a ceasefire ended on Thursday after the US and Israel withdrew their negotiating teams.

Mr Trump blamed Hamas for the collapse of negotiations as he left the US for Scotland, saying the militant group “didn’t want to make a deal… they want to die”.

Sir Keir has tried to forge close personal ties with the president, frequently praising his actions on the world stage despite clear foreign policy differences between the US and UK.

The approach seemed to pay off in May when Mr Trump announced the agreement of a trade deal with the UK that would see several tariffs lowered.

The two leaders are expected to discuss this agreement when they meet, with the prime minister likely to press the president for a lowering of outstanding tariffs on imports such as steel.

Prior to the visit, the White House said the talks would allow them to “refine the historic US-UK trade deal”.

Extracting promises from the president on the Middle East may be harder though.

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Should aid be dropped into Gaza?

Despite some reports that Mr Trump is growing frustrated with Israel, there is a clear difference in tone between the US and its Western allies.

As he did over the Ukraine war, Sir Keir will have to walk a diplomatic line between the UK’s European allies and the White House.

On Thursday, French President Emmanuel Macron announced his country would formally recognise a Palestinian state in September, the first member of the G7 to do so.

That move was dismissed by Mr Trump, who said it “doesn’t carry any weight”.

Read more from Sky News:
US and EU agree trade deal – with bloc facing 15% tariffs
Geldof accuses Israel of ‘lying’ about Gaza starvation

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Trump: ‘It doesn’t matter what Macron says’

The UK, French and German leaders spoke over the weekend and agreed to work together on the “next phase” in Gaza that would see transitional governance and security arrangements put in place, alongside the large-scale delivery of aid.

Under pressure from members of his own party and cabinet to follow France and signal formal recognition of Palestine, Sir Keir has gradually become more critical of Israel in recent months.

On Friday, the prime minister said “the starvation and denial of humanitarian aid to the Palestinian people, the increasing violence from extremist settler groups, and Israel’s disproportionate military escalation in Gaza are all indefensible”.

Government sources say UK recognition is a matter of “when, not if”, however, it’s thought Downing Street wants to ensure any announcement is made at a time when it can have the greatest diplomatic impact.

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Baby Zainab starved to death in Gaza

Cabinet ministers will be convened in the coming days, during the summer recess, to discuss the situation in Gaza.

The UK has also been working with Jordan to air drop supplies, after Israel said it would allow foreign countries to provide aid to the territory.

President Trump’s trip to Scotland comes ahead of his second state visit to the UK in September.

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Downing Street says Ukraine will also likely be discussed in the meeting with both men reflecting on what can be done to force Russia back to the negotiating table.

After the meeting at Turnberry, the prime minister will travel with the president to Aberdeen for a private engagement.

Mr Trump is also expected to meet Scottish First Minister John Swinney while in the country.

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Crypto isn’t crashing the American dream; it’s renovating it

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Crypto isn’t crashing the American dream; it’s renovating it

Crypto isn’t crashing the American dream; it’s renovating it

The US housing regulator’s decision to recognize crypto assets in mortgage applications marks a historic shift from exclusion to integration, opening new pathways to homeownership.

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