Cardano's Charles Hoskinson Warns Clarity Act Could Be SEC's “Wet Dream”
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Cardano founder and early Ethereum contributor Charles Hoskinson has turned sharply against the latest version of the US crypto market structure “Clarity Act,” calling it a “horrific trash bill” that could entrench the Securities and Exchange Commission’s power and choke off future American crypto projects. His comments come as the legislation inches closer to passage in Congress and industry lobbyists scramble over last‑minute compromises. Everything Starts as a Security: Hoskinson’s Core Objection Hoskinson’s main attack centers on one design choice: under the current draft, “all new cryptocurrency projects” would reportedly be treated as securities by default. Legacy networks such
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