{"id":5801,"date":"2026-01-20T07:09:21","date_gmt":"2026-01-20T07:09:21","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=5801"},"modified":"2026-01-20T07:09:21","modified_gmt":"2026-01-20T07:09:21","slug":"hoskinson-targets-clarity-act-and-ripples-compliance-stance","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=5801","title":{"rendered":"Hoskinson Targets Clarity Act and Ripple\u2019s Compliance Stance"},"content":{"rendered":"

<\/p>\n

\n
\n
\n
    \n
  • Charles Hoskinson, founder of the Cardano blockchain, has savaged the draft CLARITY Act, claiming it gives total control of the crypto industry to the SEC and hands the crypto \u201crevolution\u201d to the big banks.<\/span><\/li>\n
  • Hoskinson also criticised Ripple CEO Brad Garlinghouse for his support of the draft bill and not fighting for what\u2019s best for the industry.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n

    Cardano founder Charles Hoskinson has savaged the proposed crypto market structure legislation known as the CLARITY Act, saying it gives control of the crypto industry to the Securities and Exchange Commission (SEC) and hands the crypto \u201crevolution\u201d to big banks.<\/p>\n

    \n

    In a live broadcast posted to his X account on January 19, Hoskinson said the state of crypto regulation now \u2014 after a year of Trump\u2019s ostensibly pro-crypto regime \u2014 is no better than it was under Biden and former anti-crypto SEC Chair Gary Gensler.<\/p>\n

    \u201cYou know what the current bill has in it, 137 amendments later? It hands the entire keys to the cryptocurrency kingdom to the Security and Exchange Commission and you have to go beg and plead with them to make it not a security,\u201d he said.\u00a0<\/p>\n

    \n
    \n

    All new projects are securities by default. How is that any better than what scary Gary [Gensler] gave us under Biden?<\/em><\/p>\n<\/div>\n

    \n Charles Hoskinson, Cardano founder <\/div>\n<\/div>\n

    Hoskinson became increasingly agitated as he discussed the new legislation, declaring that the revolution he\u2019d been trying to usher in had been co-opted by the banks and other hangers-on looking to cash in by leveraging the Trump administration\u2019s flagrant corruption.<\/p>\n

    \u201cThe hundreds of millions of dollars of donations and lobbying to pay for everything from the inauguration to the east wing of the White House and all the stuff in between \u2014 his family\u2019s crypto assets \u2014 all these things, and a year later what we got is Elizabeth Warren wrote the bill.\u201d<\/p>\n

    \n
    \n

    I didn\u2019t sign up to hand the f***ing revolution to 15 banks, to live in a world where everything is a custodial wallet, where every transaction is KYCed, everything is mutable and reversible, can be frozen at a whim.<\/em><\/p>\n<\/div>\n

    \n Charles Hoskinson, Cardano founder <\/div>\n<\/div>\n

    Building to a crescendo of discontent over the draft legislation, Hoskinson declared, \u201cI signed up for freedom goddammit! I signed up for a revolution!\u201d<\/p>\n

    Related: The End of the Trump Trade: Crypto Grows Up<\/strong><\/p>\n

    Hoskinson Harangues Garlinghouse for Supporting the Draft Bill<\/h2>\n

    Hoskinson also lashed out at Ripple CEO Brad Garlinghouse after he tweeted in support of the draft bill last week, and called it a \u201cmassive step forward in providing workable frameworks for crypto, while continuing to protect consumers,\u201d adding that \u201cclarity beats chaos.\u201d<\/p>\n

    \n
    \n
    \n

    While long-overdue, this move by @SenatorTimScott<\/a> and @BankingGOP<\/a> on market structure is a massive step forward in providing workable frameworks for crypto, while continuing to protect consumers. Ripple (and I) know firsthand that clarity beats chaos, and this bill\u2019s success is\u2026 https:\/\/t.co\/EWcml1NpBE<\/p>\n

    \u2014 Brad Garlinghouse (@bgarlinghouse) January 14, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

    The Cardano founder took significant issue with Garlinghouse\u2019s suggestion that some kind of legislation is better than nothing. Hoskinson said, \u201csorry Brad, it\u2019s not better than chaos \u2014 take the chaos and fight for what\u2019s right. Fight for integrity.\u201d<\/p>\n

    Related: Scaramucci, Armstrong, Warn Stablecoin Yield Ban Hands China a Strategic Edge<\/strong><\/p>\n

    Hoskinson also likened the CLARITY Act to the Securities Exchange Act of 1933 \u2014 suggesting that just like the Securities Act, the crypto market structure legislation will be unchangeable once passed into law. He feels that would potentially destroy any prospect of crypto achieving its revolutionary goals, and warned Garlinghouse that \u201cyou pass it, you own it forever!\u201d<\/p>\n<\/p><\/div>\n