Charles Hoskinson, the founder of Cardano, recently unleashed a fervent critique of the US Securities and Exchange Commission (SEC) and raised questions about Bitcoin’s decentralization in a candid AMA session.
Cardano Founder Blasts SEC And Bitcoin
Hoskinson’s criticism was primarily aimed at the SEC’s approach to cryptocurrency regulation. He expressed confusion and frustration over how the SEC differentiates between cryptocurrencies like Ethereum, Bitcoin, and Cardano. His challenge was not just rhetorical but also deeply rooted in the legal framework, specifically the Howey test, used to determine if an asset qualifies as a security.
He stated, “Then they [the SEC] comes in and says it is a security. What the hell does this mean? If it is decentralized. How did Bitcoin register? It’s not. So explain to me the f****ng difference between Ethereum, Bitcoin, and Cardano, and the rest of the gang. Explain it to me. Like I’m five years old. Right now. Run the goddamn Howey te
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