The U.S. Securities and Exchange Commission (SEC) is facing challenges in its billion-dollar lawsuit against cryptocurrency personality Richard Heart.
In a recent court filing, it was revealed that the SEC has been unsuccessful in serving Heart, which complicates the high-profile case. This turn of events is quite interesting.
How many of the illegal immigrants who crossed our border in 2023 weren't from Mexico?
Sec. Mayorkas wouldn’t answer.
If we had effective Safe Third Country Agreements, millions of the people Pres. Biden allowed in would’ve stopped before entering U.S. communities. pic.twitter.com/qyDF3jnflJ
— John Kennedy (@SenJohnKennedy) November 27, 2023
Legal Impasse Causes Delays in ” U.S. Securities” Case Against HEX Creator Richard Heart
The Securities and Exchange Commission’s (SEC) legal dispute with Richard Heart, a well-known personality in the crypto world, is facing an unexpected hurdle. The SEC has encountered difficulties in serving legal documents to Heart, as per a court filing.
Wow in a legal proceeding trump is now arguing he didn’t violate the 14th Amendment by inciting the Jan 6 insurrection because he “never took an oath to support the Constitution of the United States.” This treacherous criminal is head of the republican party. pic.twitter.com/TstpQ6DlAq
— Bill Pascrell, Jr. 🇺🇸🇺🇦 (@BillPascrell) November 28, 2023
This development has raised questions about the lawsuit’s progress and future, which alleges that Heart, along with his entities Hex, Pulsechain, and Pulsex, violated securities laws.
The SEC filed the lawsuit on July 31, 2023, and placed Heart at the centre of a significant legal controversy over the operation of his crypto entities.
The complaint accuses him and his companies of engaging in activities that contravene U.S. securities laws, raising more than $1 billion through unregistered securities offerings.
33 state AGs are continuing their hunt against Meta. A newly unsealed complaint accuses Instagram and the rest of Meta of lying to Congress, deliberately targeting the underaged, selling kids’ personal data who-knows-where and causing suicides.
— (x) Blogwatch—not a bot, nor a parody (@xBlogwatch) November 27, 2023
However, as of the latest filing, the SEC has not received confirmation of successful service in Finland. The SEC told the court that the delay is significant as it impedes the legal process and could prolong the case’s resolution.
As per the latest reports, the SEC is expected to provide a status update to the court by December 15, 2023, regarding their attempts to serve Heart. If their efforts are unsuccessful, the regulator plans to explore alternative methods of service in accordance with federal procedural rules.
- Crypto’s Pivotal Week: CZ Steps Down, SEC Tightens Grip, and US Regulatory Push Intensifies
- Call for SEC Chair’s Ouster Intensifies as Agency Launches Second Crypto Exchange Lawsuit in Less Than a Year
- SEC Categorizes 16 Cryptocurrencies as Securities in Ongoing Kraken Case