Charles Hoskinson, co-founder of the Cardano blockchain, has declared the 'war on digital assets' in the U.S. officially over, following years of strict regulation of the crypto industry.
Hoskinson's Statement
Charles Hoskinson made a powerful statement that the 'war on digital assets' in the U.S. has officially ended. His remarks come after years of intense regulatory scrutiny on the crypto industry, including numerous lawsuits and investigations by government agencies.
Criticism of the SEC
Hoskinson criticized the SEC’s aggressive stance, stating that the regulator had labeled the entire industry as criminal. He highlighted that the regulator sued various companies, costing the sector hundreds of millions of dollars in legal fees and wiping out billions in market cap. Hoskinson also pointed out the hypocrisy of federal employees: 'The SEC goes after our industry, makes us all criminals, and then cries foul when the industry strikes back.'
Impact on the Crypto Industry
Hoskinson's remarks were particularly pointed toward SEC Chairman Gary Gensler, whose leadership has been central to the Commission's enforcement actions. Reports have suggested that some SEC staff members are facing backlash, with law firms refusing to interview them due to their work with crypto. Former SEC official William McLucas criticized these attacks, stating it's unfair to target staff members who are merely doing their jobs. 'We will never forget or forgive as an industry because we know what would have happened if the other side won,' Hoskinson added.
Charles Hoskinson's statement highlights the crypto industry's resolve to withstand pressure and defend its interests despite ongoing challenges.
