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Cardano founder slams CLARITY Act over token security classification
Cardano founder Charles Hoskinson said that if the CLARITY Act were passed, XRP would likely have qualified as a security at the time of its launch. The bill, formally known as H.R. 3633, aims to establish clearer regulatory rules for the U.S. crypto industry. According to Hoskinson, the proposal shifts the burden of proof onto crypto projects, requiring them to demonstrate that they are no longer securities. In his view, this approach could create prolonged regulatory uncertainty, Coinpedia reports. He noted that when XRP launched in 2012, the XRP Ledger was highly centralized and largely dependent on its founders, ... (full story)
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