In a surprising development, the U.S. Securities and Exchange Commission (SEC) has dropped its fraud case against Richard Heart, the founder of cryptocurrency projects HEX, PulseChain, and PulseX. The SEC formally notified the Eastern District Court of New York on April 21 that it would not amend its complaint against Heart, effectively concluding the case. This decision represents a rare legal defeat for the SEC in its regulatory efforts within the cryptocurrency space. Stakeholders are now left to speculate what this means for the future of projects associated with Heart as he gears up for further developments.