Cardano Founder Discusses SEC’s Classification of ADA as a Security

Cardano founder Charles Hoskinson made significant statements in a recent YouTube interview. Hoskinson emphasized that despite the SEC classifying Cardano’s native cryptocurrency ADA as a security, they have not faced any sanctions from regulators so far.

The lawsuits filed by the U.S. Securities and Exchange Commission (SEC) against Binance and Coinbase have increased tension between crypto companies and financial regulatory institutions. The SEC’s classification of several cryptocurrencies, including Cardano (ADA), Binance Coin (BNB), Solana (SOL), Polygon (MATIC), and Filecoin (FIL), as securities has led to strong reactions from many figures in the crypto ecosystem towards the SEC. Coinbase CEO Brian Armstrong stated that they have expressed the need to delist all crypto assets other than BTC from their platforms because the SEC previously classified them as securities.

Furthermore, recent developments in the XRP case have further intensified the tension between crypto companies and the SEC. Cardano founder Charles Hoskinson also made a statement regarding this issue.

Statements from the Cardano Founder

Following the SEC’s classification of several altcoins, including Cardano’s native cryptocurrency ADA, as securities, Cardano founder Charles Hoskinson has made numerous statements on the matter. In a recent YouTube livestream, Hoskinson once again addressed the ongoing controversies. He claimed that the pressure on crypto assets is political and has no relevance to securities laws.

Charles Hoskinson, founder of Cardano, emphasized that despite the SEC classifying Cardano’s native cryptocurrency ADA as a security, they have not faced any sanctions from regulators so far, and he also highlighted that they have no such expectations.

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Hello, my name is Vincent Parks. I help novice traders and private investors. I write articles on trading / TA / trading psychology etc. For the past 3 years, I have been an account manager in a company that specializes in binary options. I have more than 5 years of professional experience in FX/crypto trading. My goal in life is to share my knowledge and experience with more people.