In a recent video, Charles Hoskinson, the founder of Cardano, voiced strong criticism against Ripple CEO Brad Garlinghouse regarding his endorsement of the US Clarity Act. As analysts warn in the report, Hoskinson's remarks highlight significant concerns about the implications of the proposed legislation for the cryptocurrency industry.
Hoskinson's Concerns Over the Clarity Act
Hoskinson argued that the Clarity Act, laden with 137 amendments, would inadvertently expand the SEC's authority over emerging crypto projects. He expressed that this could force developers to seek approval from an agency that has historically posed challenges to their operations.
The Risks of Embracing Regulatory Frameworks
The Cardano founder warned that embracing such a regulatory framework could be a strategic misstep for the entire industry. He believes it would pave the way for a future where transactions are easily manipulated by established power structures, undermining the decentralized ethos of cryptocurrency.
A Call to Action for the Crypto Community
In his passionate address, Hoskinson urged the crypto community to advocate for integrity and resist settling for regulations that compromise the foundational principles of the industry.
Recently, Ripple CEO Brad Garlinghouse expressed his support for Treasury Secretary Scott Bessent, a move that contrasts sharply with Charles Hoskinson's criticism of Garlinghouse's stance on the Clarity Act. For more details, see read more.
