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.
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.