Hoskinson Warns CLARITY Act Makes New Tokens Securities by Default

Hoskinson called the bill a damaging piece of legislation for the US crypto industry. He said new projects will be defaulted to security status and put under the SEC’s thumb. Hoskinson stated this would kill US innovation and make the country less competitive. Charles Hoskinson, co-founder of Cardano, has strongly criticized the proposed CLARITY Act, calling it a “horrific, trash bill” and a potentially damaging piece of legislation for the US crypto industry. Speaking during a livestream , he highlighted the divisions within the crypto community regarding how the US should handle digital asset rules. Hoskinson’s main concern is with how the CLARITY Act defines and regulates crypto. He says if the bill passes as is, it could trap almost every new project in a regulatory catch-22, defaulting them to security status and putting them under the Securities and E… Read The Full Article Hoskinson Warns CLARITY Act Makes New Tokens Securities by Default On Coin Edition .