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Cardano's Hoskinson Says SEC Not Coming After ADA

Wed, 08/23/2023 - 09:45
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Alex Dovbnya
Cardano founder Charles Hoskinson clarifies the commission's stance on ADA, asserting there's been "no enforcement event" targeting the token
Cardano's Hoskinson Says SEC Not Coming After ADA
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Against the backdrop of growing concerns and rumors surrounding the U.S. Securities and Exchange Commission's (SEC) increased scrutiny of the cryptocurrency space, Cardano's founder Charles Hoskinson downplayed the severity of the predicament during a recent interview

During the interview, Hoskinson sought to clarify the SEC's stance on Cardano, emphasizing, "It's very important to be accurate with our language; there's no coming after Cardano."

This comment comes after some speculations that the SEC labeled Cardano's ADA token as a security, but Hoskinson reiterated that there's been "no enforcement event" against the token.

Ripple's Brad Garlinghouse and Chris Larsen Show New Trial Schedule

As reported by U.Today, Coinbase CEO Brian Armstrong recently hinted at the possibility of delisting several tokens, including Cardano's ADA, due to an ongoing lawsuit by the SEC.

In its bombshell lawsuits against Binance and Coinbase, the SEC has alleged that 13 out of the 240 digital assets available on their platform are unregistered securities.

Armstrong acknowledges that the delisting of ADA could be a "worst-case scenario." 

Input Output Global (IOG), the primary developer behind the Cardano blockchain, has firmly opposed the SEC's proposition that ADA be labeled as a security. 

After Ripple's partial win against the SEC injected some optimistic into the crypto community, the agency is now fighting back. As reported by U.Today, the SEC has requested permission to appeal a ruling that declared XRP as not being a security.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at