Cardano Founder Discusses Latest ADA Developments, XRP Lawsuit, And Crypto Regulations

Cardano Founder Charles Hoskinson Bullish On Crypto Growth In the US

Charles Hoskinson in an AMA on July 29 started with the launch of Intersect, a member-based organization shaping the Cardano future, with over 200 members joined in the last few days. He will provide details on various things including moving code from IOHK and Intersect in the coming days. He also talked latest Cardano workshops and partnerships.

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Talking about Judge Torres’ ruling in the US SEC v. Ripple lawsuit, Charles Hoskinson said it’s a big win for the community, with XRP getting listed on major crypto exchanges. It also establishes a legal foundation to argue on crypto like Cardano, Solana, Polygon (MATIC), and others are not securities.

He asserts the ruling certainly weakens the US SEC’s argument and urges lawmakers to pass crypto legislation in the US to provide clarity to the crypto industry. ADA is not a security irrespective of what SEC say as the project is run by the community and open-sourced.

Charles Hoskinson revealed successful progress regarding data protection-focused sidechain Midnight, congratulated Ergo for being the first blockchain to roll out NIPoPoWs, and his focus on multi-delegation on Lace 1.4 version.

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He went on to explain the Hydra layer 2 scalability solution, showing releases, contributors, and Features expected in the coming updates.

Presidential Candidate Robert Kennedy Jr. wanting to back USD with Bitcoin is difficult due to limited supply, argues Charles Hoskinson. Monetary policy has helped anyone, “They are stealing from you on a day-to-day basis.” Inflation, rising US debt, and other tensions signal there is something wrong.

When asked about crypto bills passed by the House recently, he said the move is monumental but still needs to talk about it with his “government affairs people and think about it.”

ADA price currently trades at $0.31 and is up 1% in the past 24 hours, moved mostly sideways this week.

Also Read: Binance And CEO CZ Facing Intense Scrutiny In Euro Area Amid Banking Woes – WSJ

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