SEC Charges Richard Heart and His Three Cryptocurrency projects – Hex, PulseChain, and PulseX
On July 31, 2013, the Securities and Exchange Commission (“SEC”) formally charged the enigmatic crypto-personality Richard Heart (whose real name, as I learned from the complaint, is Richard Schueler) and his three entities—Hex, PulseChain, and PulseX—with conducting unregistered offerings of crypto asset securities. These securities offerings and sales raised more than $1 billion in funds from U.S. investors and investors abroad. The SEC further charged...