Cardano founder criticizes CLARITY Act, warns lawmakers

Charles Hoskinson, founder of Cardano, has expressed strong reservations about the proposed U.S. Digital Asset Market CLARITY Act. He argues that the bill, even if passed, could take over a decade to fully implement and may be subject to 'weaponization' by future political administrations. Hoskinson believes the legislation is overly complex, domestically focused, and risks stifling new crypto projects by treating them as securities by default. This approach, he contends, would unfairly benefit established cryptocurrencies like Cardano, XRP, and Ethereum while hindering innovation and competition within the digital asset space.