š Crypto Governance Spotlight: Hoskinson Slams Clarity Act for āSelling Out Cryptoās Soulā
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 š®ā ļø; he warned that accepting flawed legislation today could āsell the soul of crypto,ā empowering agencies that have historically taken enforcement actions against blockchain innovators šš; 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 Rippleās Brad Garlinghouse, who supports the Act for offering āsome clarity,ā while Hoskinson insists that bad regulation is worse than none š«š; the disagreement has sparked heated reactions across the community, highlighting a deepening divide between founders pushing for rapid legal progress and those prioritizing longāterm decentralization and autonomy š§©š„.
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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 ā”š; the clash underscores a pivotal moment for cryptoās future, where decisions today could define innovation, privacy, and financial freedom for the next generation.
