Richard Heart Battles SEC Allegations: HEX Crypto Rises by 40%

• Richard Heart of HEX Leads Legal Defense Against SEC Allegations
• Heart's Legal Battle
• Claims of Decentralization
• The Market Response

Richard Heart of HEX Leads Legal Defense Against SEC Allegations

In light of recent allegations from the U.S. Securities and Exchange Commission, Richard Heart, the originator of HEX$0.0055 3.87% crypto, has assembled a formidable legal defense. A group of well-known lawyers are backing Heart, robustly combating charges of federal securities laws violation connected to the development of HEX, PulseChain, and PulseX.

Heart's Legal Battle

On January 9, 2024, Heart's legal team sent a letter to Judge Carol Bagley Amon of the United States District Court for the Eastern District of New York. In the letter, the legal team expressed their plan to request a pre-motion conference. This strategic move is a response to a complaint filed by the SEC the previous month.

The SEC's complaint accuses Heart of the illicit sale of crypto asset securities and misuse of funds gathered from these sales. However, Heart's legal counselors emphatically refute these charges, basing their defense on the innovative nature of blockchain technology. They portray Heart as a figure dedicated to revealing the potential societal benefits of blockchain, highlighting his ongoing interest in the technology since his introduction to Bitcoin$42,260 -0.64% in 2011.

Claims of Decentralization

The defense letter argues that the software programs HEX, PulseChain, and PulseX-operate on a worldwide decentralized network of computers, free from any business or corporate direction. According to the defense, the SEC fails to recognize this critical aspect of decentralization in its complaint.

The Market Response

In the wake of the legal battle, the cryptocurrency market has responded positively to Heart's assured stance. Following the announcement of Heart's plan to robustly challenge the SEC's charges, HEX, along with its associated tokens PulseChain (PLS) and PulseX (PLSX), has seen a substantial increase in prices.

HEX has gained 40%, trading at $0.008066, while PLS has also seen an increase of nearly 30% at the time of writing.

Edited by Jonathan Stoker