I just saw that richard heart is celebrating what he calls a total victory against the SEC. On April 21, the U.S. regulatory agency confirmed that it would not appeal or reopen its fraud case against the founder of HEX. A court had already dismissed the charges in February, so technically the project dodged allegations of U.S. securities.

But here’s the interesting part: according to richard heart, this represents regulatory clarity that almost no other crypto has. He says that he, PulseChain, PulseX, and HEX “completely defeated the SEC.” The legal argument was quite specific: Judge Carol Bagley Amon determined that since Heart does not reside in EE.UU. and his communications were aimed at a global audience, the SEC lacked jurisdiction. It’s not exactly an exoneration, but rather a jurisdictional technicality.

Now, what most people don’t mention is that richard heart faces far more serious problems in Europe. Finland is looking for him for tax evasion and assaulting a minor. In 2024, he was sent to prison in absentia after authorities found that his income declarations did not match what the tax service estimated. Police confiscated millions in luxury watches from a residence in Espoo. Europol also points to him for physically assaulting a 16-year-old victim.

Back to the crypto angle: HEX has always been controversial. Analysts have been pointing out for years that it works like a Ponzi scheme: promises of 38% annual returns, referral earnings, and richard heart owns around 90% of the tokens. After the news of the dismissal, the price briefly rose, but looking at the full picture, HEX has hardly moved since the legal trouble began. At the close, it trades at $0.002253 with volumes of just $250k in 24 hours. The token is practically dead despite having a considerable number of social media followers.

The question many are asking is: how long can this last? richard heart dodged U.S. regulators, but not because he was right—rather because the SEC couldn’t prove jurisdiction. Meanwhile, he faces real criminal investigations in Europa. The legal victory in EE.UU. sounds good in an X statement, but the token’s numbers tell a different story.