Can an US American get in trouble by the sec for active trading of the hex coin

The US Securities and Exchange Commission (SEC) has been actively investigating and taking enforcement actions against individuals and entities involved in the unregistered securities offerings of cryptocurrencies, including HEX (Hexusd). The SEC has alleged that HEX was offered and sold in an unregistered securities offering, violating federal securities laws.

Richard Heart, the founder of HEX, has been a target of the SEC's enforcement actions. The SEC charged Heart and HEX with conducting unregistered offerings of crypto asset securities that raised more than $1 billion in crypto assets from investors. Heart was also charged with fraud for allegedly misappropriating at least $12 million of offering proceeds to purchase luxury goods.

In July 2023, the SEC filed a lawsuit against Heart and HEX, accusing them of violating federal securities laws by offering HEX in an unregistered securities offering. The SEC alleged that Heart marketed HEX as a high-yield "blockchain certificate of deposit" and claimed it would make people "rich." The SEC further alleged that Heart and HEX offered and sold HEX tokens in an unregistered offering, collecting over 2.3 million Ethereum (ETH) through so-called "recycling" transactions.

The case against Heart and HEX was initially dismissed by the US District Judge Carol Bagley Amon in February 2025, who ruled that the SEC lacked jurisdiction over Heart's alleged activities because they were conducted through digital wallets and crypto platforms with no clear ties to the United States. The SEC had until April 21, 2025, to file an amended complaint, but it declined to do so, effectively ending the case.

Despite the dismissal of the SEC case against Heart, he still faces legal challenges in Europe and has been listed on Interpol's Red Notice for tax evasion charges and an assault allegation. Additionally, the SEC's investigation into HEX and its founder's activities may continue, as the SEC has been actively pursuing enforcement actions against other individuals and entities in the cryptocurrency sector.

In conclusion, an individual in the United States can potentially get into trouble with the SEC for actively trading certain cryptocurrencies, such as HEX, if the SEC determines that the trading activities constitute an unregistered securities offering and violate federal securities laws. The recent legal developments involving Richard Heart and HEX suggest that the SEC may be willing to pursue enforcement actions against individuals involved in cryptocurrency-related securities offerings, even if the activities occur through digital wallets and crypto platforms. However, the outcome of these legal proceedings can be uncertain and subject to various legal and jurisdictional complexities.