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

Cardano founder Charles Hoskinson discusses latest Cardano (ADA) developments, Ripple vs SEC lawsuit, and crypto bill passed by the US House.
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Cardano Founder Discusses Latest ADA Developments, XRP Lawsuit, And Crypto Regulations

Cardano founder Charles Hoskinson in an AMA session on Saturday talked about the latest Cardano developments, Judge Analisa Torres’ landmark decision in the US SEC v. Ripple lawsuit, and the passing of two crypto bills by the US House Financial Services Committee Republicans with some Democrats’ support.

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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.

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.

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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Varinder Singh

Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.

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