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The SEC has intensified its crackdown on a $198 million crypto fraud while dropping its case against Hex founder Richard Heart. This dual action highlights the agency’s evolving enforcement strategy under new leadership. The contrast underscores the regulatory uncertainty in the crypto space.
- SEC charges Ramil Palafox with a $198M crypto Ponzi scheme, alleging misused funds for luxury purchases like Lamborghinis.
- Case against Hex founder Richard Heart dismissed, which he claims sets a precedent protecting open-source software.
- Contrasting actions signal the SEC’s evolving crypto enforcement strategy under new leadership.
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