In a tweet, Fox Business Senior Correspondent Charles Gasparino touched on Cardano founder Charles Hoskinson's comment to Eleanor Terrett regarding the crypto crackdown.
Cardano's founder was asked if he thinks SEC chair Gary Gensler could destroy the crypto industry. He responded if only oil (petroleum, as implied) could be killed — a metaphor that suggests Gensler lacks the ability to destroy the cryptocurrency industry.
Breaking: @EleanorTerrett asked the great @IOHK_Charles if he thinks @GaryGensler can destroy the crypto industry. His response: “Can Biden kill oil?” More on the @SECGov’s regulatory jihad at 345pm w @LizClaman on @FoxBusiness— Charles Gasparino (@CGasparino) February 14, 2023
Earlier in the week, the crypto market awoke to the shocking news that Paxos had been ordered to stop BUSD stablecoin minting and also issued a Wells notice by the SEC that BUSD stablecoin is an unregistered security.
Amid the ongoing fears of a further crackdown, Gasparino shared a scoop that the SEC was making a move against crypto: "Per @EleanorTerrett & my reporting: Securities lawyers including a past top @SECGov official say SEC looking to largely 'cut off' crypto in all its forms after FTX debacle. @SEC_Enforcement has 'blanketed' crypto w so-called Wells Notices signaling intent to bring cases."
Regulation by enforcement might be only source of guidance
In an interview that Fox Business correspondent Eleanor Terrett had with Cardano founder Charles Hoskinson, he said that significant regulatory reform might not come about until 2025.
Recently, Hoskinson said that given the current state of Washington, and that 2024 is an election year, 2025 remains the next one for progress legislatively, and thus he maintains his stance.
As reported earlier, CryptoLaw founder John Deaton opined that the SEC's "regulation by enforcement" policy might continue to be the only source of guidance for the market.