The Securities and Exchange Commission (SEC) is a U.S. government agency that oversees securities markets and protects investors. Richard Heart is the founder of Hex, a cryptocurrency platform. The SEC filed a lawsuit against Heart alleging unregistered securities offerings. - A U.S. federal judge dismissed the SEC's lawsuit against Richard Heart, the founder of Hex. - The SEC had accused Heart of raising $1 billion through unregistered cryptocurrency offerings. - The judge cited a lack of substantial connection between Heart's actions and the United States as the reason for dismissing the case. - The SEC's lawsuit also alleged that Heart defrauded investors of $12.1 million.