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Cardano founder accuses SEC of favoring Bitcoin, Ethereum

Cardano founder accuses SEC of favoring Bitcoin, Ethereum

CointimeCointime2023/12/11 05:27
By:Cointime

Charles Hoskinson, the founder of Cardano, recently made serious accusations against the United States Securities and Exchange Commission (SEC) during a QA session. He claimed that the SEC has unclear rules and inconsistent enforcement standards when it comes to regulating cryptocurrencies, particularly showing clear favoritism towards Bitcoin and Ethereum. Charles Hoskinson further criticized the SEC for relying on enforcement rather than legislative action to establish policies, emphasizing the need for legislative bodies to establish clear rules and regulations. He pointed out that existing laws were established decades ago and may not fully address the complexity of the rapidly developing cryptocurrency field. He expressed dissatisfaction with the SEC's classification of decentralized assets and demanded a clear distinction between Bitcoin, Ethereum, and Cardano. He also believed that the "team orange" receiving a "complete pass" was a "sad joke."

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