The US Securities and Exchange Commission (SEC) has been known for its continued crackdown on the crypto industry over the last few years. This has prompted the likes of Cardano Founder, Charles Hoskinson, to give his opinion on the reason for the SEC’s actions.
SEC’s Move Against Crypto Is Political
During an interview with Corey Costa, Hoskinson suggested that the agency’s crackdown on the industry was politically motivated. He believes that the regulator isn’t trying to enforce securities laws but simply doing the bidding of the Democratic Party, who were trying to save face in the wake of the fall of disgraced FTX founder Sam Bankman-Fried (SBF).
SBF is known to have been one of the highest donors of the Democratic party between 2021 and 2022. Following SBF’s indictment, the Democratic Party was heavily criticized, with many politicians being called out for having close ties to him.
Given this, the Cardano founder hinted that the party was labeling every stakeholder i
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