- Cardano founder Charles Hoskinson recently appeared in an interview, saying ADA is safe from the SEC.
- He pointed out that the lawsuits against ADA and other cryptocurrencies are political.
Cardano founder Charles Hoskinson appeared in a recent YouTube interview on Corey Costa’s Crypto Coins. There, he spoke about many things regarding the crypto industry. Apparently, the founder isn’t happy with many things happening in the crypto industry. Particularly, the recent crackdown between US regulators and crypto firms is something he doesn’t like.
The SEC Won’t Come After ADA — Cardano Founder Says
- The crypto environment in the United States is filled with fear of what might happen. Apparently, this is due to the continuous crackdown of many crypto firms by the SEC. But in a recent interview, Cardano founder Charles Hoskinson said the US regulator won’t be coming after ADA.
- Recall the SEC sued the two largest crypto exchanges in the United States, Binance and Coinbase. In the process of the lawsuit, they provided a list of tokens that were equal to securities. To the bewilderment of the Cardano community, the ADA token appeared there. Moreover, the list was Cardano (ADA), Binance Coin (BNB), Solana (SOL), Polygon (MATIC), and Filecoin (FIL).
- Apparently, what the US regulator is saying is that the registration of these cryptocurrencies must happen before its listing in crypto exchanges. Due to this statement, there were speculations that the SEC light crackdown on the ADA token.
- This is why Cardano founder spoke about the situation in his recent interview. He said the US regulator cracking down on two exchanges doesn’t mean other cryptos are guilty. Moreover, Hoskinson believes the US regulator doesn’t have the enforcement ability against ADA. He also spoke about XRP.
Cardano Founder Calls SEC Crackdown on XRP Political
- Cardano founder didn’t hesitate to speak about the current situation with other cryptocurrencies. Especially Ripple Labs and the SEC. The case between these two started around December 2020, and it continues to drag on after many years.
- Apparently, the bone of contention here is that the US regulator accuses the crypto firm of lack of registration. They tagged their native token, XRP, as an unregistered security. The matter hit the court, and XRP made a major breakthrough there.
- Ultimately, the judge presiding over the case, Judge Torres, declared XRP non-security. However, Cardano founder sees the recent crackdown on crypto firms as a political move.
- According to him, it is a situation where many political actors pay the US regulator to be on the good side. Apparently, Hoskinson didn’t hold back with what he believes. He said many agencies in the US aren’t bipartisan anymore. They are now political agents for the highest bidder.
Conclusion
During a recent interview, Cardano founder Charles Hoskinson made a long rant about some things happening around crypto. He spoke about ADA and XRP. On the one hand, he believes the whole fiasco with the SEC won’t get to ADA. On the other hand, he believes that the move against XRP and other crypto firms is political.
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