đ Crypto Governance Spotlight: Hoskinson Slams Clarity Act for âSelling Out Cryptoâs Soulâ
Cardano founder Charles Hoskinson has strongly criticized the Clarity Act, arguing that the bill hands excessive power to U.S. regulators and risks locking the industry into a restrictive framework for years to come đźâ ïž; he warned that accepting flawed legislation today could âsell the soul of crypto,â empowering agencies that have historically taken enforcement actions against blockchain innovators đđ; this stance stems from concerns that the Act would classify most new tokens as securities by default, forcing projects to seek approval rather than build freely.
His comments followed intense debates among leaders like Rippleâs Brad Garlinghouse, who supports the Act for offering âsome clarity,â while Hoskinson insists that bad regulation is worse than none đ«đ; the disagreement has sparked heated reactions across the community, highlighting a deepening divide between founders pushing for rapid legal progress and those prioritizing longâterm decentralization and autonomy đ§©đ„.
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As political pressure increases and legislative timelines tighten, Hoskinson urges caution, warning that once such laws pass, reversing them may be nearly impossible âĄđ; the clash underscores a pivotal moment for cryptoâs future, where decisions today could define innovation, privacy, and financial freedom for the next generation.
