Key Points:Charles Hoskinson is the prominent blockchain developer and founder Cardano. He reacted negatively to Gary Gensler’s lecture on cryptocurrency regulation. Gensler is the Chairman of the U.S. Securities and Exchange Commission.
Hoskinson believes these statements are false, and that crypto service providers have no opportunity to register for the regulations.
The regulator’s concerns were primarily motivated because the regulator failed to warn consumers about the dangers of bitcoin staking.
Charles Hoskinson is the prominent blockchain developer and founder Cardano. He reacted negatively to Gary Gensler’s lecture on cryptocurrency regulation. Gensler is the Chairman of the U.S Securities and Exchange Commission. He stated that the commission does not support cryptocurrency and only seeks to protect investors. The current head of U.S. Securities and Exchange Commission advised suppliers of crypto services to abide by the law, register and comply. Hoskinson believes these statements are false and that it is impossible for crypto service providers or regulators to register and abide to the regulations. Cardano’s founder came to the conclusion you could spend millions and years trying to solve this problem, without ever getting any solutions or a viable business model. In fact, Kraken was fined $30 million as part of a settlement with SEC. Gensler’s concerns were primarily motivated because the regulator failed to warn consumers about the dangers of staking Bitcoins. Jesse Powell, the founder and leader of the exchange, replied to Gensler’s request with some sarcasm. The businessman claimed that he didn’t know that he had to fill out a form on SEC website to inform customers that staking rewards result from staking. This was to avoid a fine of tens to millions of dollars and the closing of an entire business line. We encourage you to do your research before investing.Join us to keep track of news: https://linktr.ee/coincuWebsite: coincu.comAnnieCoincu NewsTags: Cardano founderCharles HoskinsonSECSEC Head’s Staking Appeal Lie