The U.S. SEC rejects the dismissal request of Hex founder Richard Heart, and the case will continue

The U.S. Securities and Exchange Commission (SEC) has rebutted Hex founder Richard Heart's attempt to dismiss the lawsuit against him, stating it has the right to continue pursuing this case. The SEC accuses Heart of raising over $1 billion through unregistered securities issuance and using the funds for personal luxury consumption. Heart's lawyer countered that Hex, PulseChain, and Pulse X are not securities, and since Heart did not promise investment returns, it does not constitute fraud. However, the SEC insists these assets are investment contracts and fall within the scope of securities. The next hearing for this case is scheduled for October 24th.