Charles Hoskinson Confirms SEC’s Lack of Action Against Cardano: Reassurance Amidst Cryptocurrency Regulatory Uncertainty
In a recent interview, SEC confirms no action against Cardano
Charles Hoskinson, the founder of Cardano, recently stated in an interview that the US Securities and Exchange Commission (SEC) has no plans to take action against Cardano. This news brings reassurance amidst the uncertainty surrounding cryptocurrency regulations.
Regulatory landscape and the need for clarification
The regulatory environment surrounding cryptocurrencies has sparked widespread discussion and speculation. With many projects and exchanges like Binance and Coinbase facing scrutiny from regulators, investors and enthusiasts are actively seeking clarification on how regulators treat specific digital assets, including ADA.
Hoskinson’s positive interaction with the SEC
In the interview, Hoskinson expressed positive interactions with the SEC, emphasizing that they recognized Cardano’s commitment to compliance. This recognition highlights the platform’s efforts to comply with regulatory standards.
Politics driving SEC’s actions
Hoskinson also stated that the SEC’s actions against cryptocurrency firms are driven more by politics than by securities regulations. He attributed the root cause of this to the actions of Sam Bankman Fried (SBF), the controversial founder and former CEO of the now-defunct cryptocurrency exchange FTX. Hoskinson even compared SBF to the “Bernie Madoff of our generation.”
Changing approach of an American political party
Hoskinson claims that the American political party that received significant funding from SBF is changing its approach. He points out that while they initially worked across party lines when drafting cryptocurrency regulations, they now accuse everyone of wrongdoing.
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