U.S. District Judge Carol Bagley Amon in Brooklyn cited a lack of ties between Richard Heart's alleged conduct and the United States in deciding to toss the U.S. Securities and Exchange Commission's 2023 lawsuit against Heart, a U.S. citizen residing in Finland. The SEC had alleged that Heart, also known as Richard Schueler, touted his Hex token, PulseX asset trading platform and PulseChain asset network on YouTube and other websites as pathways to "grandiose wealth." The SEC in its lawsuit said Heart knew his often "tongue-in-cheek" disclaimers that his offerings were not securities were false, including when he said that Hex was capable of 38% annual returns and "built to be the highest appreciating asset that has ever existed in the history of man."