Two days ago, the Securities and Exchange Commission (SEC) announced that the HEX token is an unregistered security. After this, the world’s largest decentralized exchange protocol Uniswap delisted the HEX token and will not be available for trading.
On the Uniswap interface, there is a list of the “unsupported” token, and now the HEX token is one of them. The general note from the interface states, “violate trademarks, that have proven to be scams, or otherwise based on legal considerations.”
This delisting of tokens just happened on the front-end level and can be traded with the help of decentralized protocols. For trading of delisted tokens, alternatively hosted websites can be used or interact directly with the protocol’s smart contract.
Earlier this week, the SEC filed a lawsuit against Richard Schueler, which shows HEX as an unregistered security. According to this lawsuit, Richard Heart along with his three unincorporated entities HEX, PulseX, and PulseChain, raised over $1 billion with selling unregistered securities.