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The SEC has abandoned its securities fraud case against HEX founder Richard Heart, marking a significant legal victory for the cryptocurrency industry. Heart hailed the decision as a win for open-source software and free speech, while the court ruled the SEC lacked jurisdiction over his activities.
- The SEC dropped its fraud case against Richard Heart after a court ruled it lacked jurisdiction over his cryptocurrency activities.
- Heart framed the dismissal as a win for open-source software, crypto, and free speech, claiming the SEC 'sued software code itself.'
- Despite the legal victory, Heart faces ongoing legal challenges in Finland, including a tax evasion investigation and a 76% drop in HEX's value.
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