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Charles Hoskinson of Cardano Uncovers Secret Behind SEC Crypto Crackdown

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It is a known fact for the past few years that the United States Securities and Exchange Commission has been restricting the transactions of the cryptocurrency industry.

As a result, crypto magnets like Charles Hoskinson, Cardano founder, were prompted to share his opinion on the matter.

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Charles Hoskinson, the founder of Cardano, believes that the US SEC (Securities and Exchange Commission) continuous crackdown on the crypto space wasn’t related to securities law. Instead, it was motivated by a hidden political agenda.

Quick Takes

  • Hoskinson says the United States SEC doesn’t intend to implement securities laws. Instead, the commission is just acting out the instructions of the Democratic Party. The party was trying to preserve its dignity following the failure and disgrace of Sam Bankman-Fried, FTX founder.
  • Bankman-Fried is known to be among the largest Democratic Party donors from 2021 to 2022. As a result, the party was severely criticized after his arrest and most politicians were mentioned as having a close relationship with him.
  • Hoskinson revealed that the SEC’s philosophical and political dispute inspired the Securities and Exchange Commission’s lawsuit against Binance with the existence of cryptos and its representation.
  • The Cardano founder is not alone in his opinion that what motivated the US SEC crackdown on the crypto entities is political.
  • The former Securities and Exchange Commission attorney, John Reed Stark, seconded his opinions. Reed stated that the SEC may desert its latest approach if a Republican is elected President of the United States by next year.
  • In his interview, Hoskinson asserted that the Securities and Exchange Commission will not mount an enforcement action against ADA. His reason was that Cardano was categorized as a security during the litigation against a cryptocurrency exchange.

What’s Happening In Crypto Today?

At the time of this writing, the price of Bitcoin is at $26,079.78, with a drop in market cap by 1.05% and a drop in trading volume by 24.21%.

On the side of Ethereum, it is presently trading at $1,658.60, with a drop in market cap by 0.57% and a drop also in trading volume by 13.06%

  • The price of Cardano at the moment is $0.2629, with a drop in market cap by 1.19% and an increase in trading volume by 23.45%.
  • Meanwhile, Dogecoin is presently trading at $0.06244, with a drop in market cap by 1.34% and a drop in trading volume by 7.26%.
  • Meanwhile, the USD Coin is presently trading at $1.00, with a drop in market cap by 0.40 and a drop in trading volume by 21.05%.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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