An American court dismissed the SEC's lawsuit against the founder of Hex, Richard Heart, due to a lack of U.S. jurisdiction, despite accusations of fraud amounting to $12.1 million

An American court dismissed the SEC's lawsuit against Richard Heart, the founder of the cryptocurrency Hex, citing a lack of U.S. jurisdiction. The SEC accused Heart of fraud amounting to $12.1 million and spending funds on luxurious purchases, including a black diamond, cars, and watches. However, the judge noted that all operations took place outside the U.S., and no connection with American investors was proven. The SEC was granted until March 20 to file an amended version of the lawsuit, and the cryptocurrencies linked to Heart saw significant growth following the court's decision.