{"id":202280,"date":"2023-11-28T20:30:00","date_gmt":"2023-11-28T15:00:00","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=202280"},"modified":"2023-11-28T20:30:00","modified_gmt":"2023-11-28T15:00:00","slug":"cardano-founder-charles-hoskinson-bitcoin-gets-complete-pass-from-sec-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/cardano-founder-charles-hoskinson-bitcoin-gets-complete-pass-from-sec-crypto-news\/","title":{"rendered":"Cardano Founder Charles Hoskinson: Bitcoin Gets \u2018Complete Pass\u2019 From SEC – Crypto News"},"content":{"rendered":"
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Cardano founder Charles Hoskinson launched a blistering attack on the U.S. Securities and\u00a0 Exchange Commission (SEC) in a recent livestream<\/a>, accusing it of giving Bitcoin a \u201ccomplete pass\u201d over the question of whether it\u2019s sufficiently decentralized to not be considered a security.<\/p>\n

\u201cIf you subpoena and attack about three different entities, you could perform a 51% attack on Bitcoin because that’s the way the hash power works,\u201d Hoskinson said. \u201cBut it’s decentralized, apparently. And Team Orange gets a complete pass.\u201d<\/p>\n

Describing the SEC\u2019s treatment of Bitcoin<\/a><\/span> as an \u201cabsolutely pathetic joke,\u201d Hoskinson queried the difference between Bitcoin, Ethereum and Cardano. \u201cExplain it to me like I’m five years old, run the goddamn Howey Test on it and show me the difference between the two,\u201d he said, arguing that Bitcoin\u2019s \u201corange pill moonboys\u201d have an expectation of returns.<\/p>\n

Accusing the SEC of wasting hundreds of millions of dollars in a \u201cPyrrhic war that’s being fought on the industry,\u201d the Cardano founder said that eventually, \u201cthey\u2019ll lose court case after court case, as they already have. And we’ll continue. And then at some point, it’ll stop. There will not be an apology. There’s not going to be any money that comes back.\u201d<\/p>\n

Railing against \u201cunaccountable\u201d government and regulators, Hoskinson praised libertarian lawmakers, saying that \u201cthe only people that seem to improve the situation are the people that are unraveling the government.\u201d<\/p>\n

\u201cThe entire reason cryptocurrencies exist is that we’re trying collectively to reestablish the social contract, because the social contract is horrifically broken,\u201d he added.<\/p>\n

The SEC has repeatedly asserted<\/a> that Cardano<\/a><\/span> (ADA) is a security in lawsuits directed at Binance and other crypto exchanges. The blockchain research and engineering firm behind Cardano, Input Output Global (IOG) has refuted<\/a> the SEC\u2019s claims, arguing that its complaints against Binance and Coinbase contain \u201cnumerous factual inaccuracies,\u201d and that \u201cunder no circumstances is ADA a security under U.S. securities laws.\u201d<\/p>\n

Undeterred, the SEC has repeated its claim that Cardano is a security, most recently in a new round of charges<\/a> filed against crypto exchange Kraken<\/a><\/span>.<\/p>\n

Edited by Stacy Elliott<\/a>.<\/i><\/p>\n

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<\/p>\n

Stay on top of crypto news, get daily updates in your inbox.<\/h3>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Cardano founder Charles Hoskinson launched a blistering attack on the U.S. Securities and\u00a0 Exchange Commission (SEC) in a recent livestream, accusing it of giving Bitcoin a \u201ccomplete pass\u201d over the question of whether it\u2019s sufficiently decentralized to not be considered a security. \u201cIf you subpoena and attack about three different entities, you could perform a […]<\/p>\n","protected":false},"author":2,"featured_media":202281,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-202280","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/202280","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=202280"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/202280\/revisions"}],"predecessor-version":[{"id":202283,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/202280\/revisions\/202283"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/202281"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=202280"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=202280"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=202280"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}