Unexpected decision from the court - Altcoin founder accused of fraud gets motion to dismiss the accepted case - Altcoin price Skyrockets

The court grants a motion to dismiss the case against Hexagon Founder Richard Hart, who has been accused of carrying out the pyramid scheme and facing fraud charges. SEC has 20 days to reinstall the case

Following development, hexadecimal prices suddenly rose.

The SEC accused Heart, who uses the Schueler surname, of raising more than $1 billion by selling unregistered securities, including Hex Token, the Pulsechain Blockchain Network and other digital assets tied to the Pulsex decentralized finance platform.

Heart and Pulsechain used an investor fund of at least $12.1 million for personal luxury purchases such as diamonds, expensive watches and high-end cars, in their original lawsuit.

US District Judge Carol Amon said the SEC “did not establish any particular facts” that demonstrated the alleged conduct that occurred within the United States, Amon said that despite the SEC allegations that the Heart discussed the benefits of the Parse Shane token on its website, regulators “did not assert that this conduct was directed in the United States.”