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Cardano founder Charles Hoskinson is asking U.S. regulators for clear-cut guidance on digital assets as uncertainty continues to persist<\/p>\n<\/div>\n<\/div>\n
During a recent conversation<\/u><\/a> on Twitter Spaces, which was hosted by Chamber of Digital Commerce founder Perianne Boring and BakerHostetler partner Teresa Goody Guill\u00e9n, Cardano founder Charles Hoskinson suggested that Ethereum might be viewed as an unregistered security by the U.S. Securities and Exchange Commission following the cryptocurrency’s transition to the proof-of-stake consensus algorithm.<\/p>\n “Now, it\u2019s a proof-of-stake system\u2026and then, perhaps, now it is a security. Who knows? You know, they are not going to take an official position one way or the other,” he said.<\/p>\n Hoskinson has stressed that there is a need for “some form of guidance”\u00a0from lawmakers about how cryptocurrencies have to be classified, while criticizing the current regulation-by-enforcement environment.<\/p>\n Ads<\/p>\n<\/div>\n<\/div>\n “It’s frustrating to me because I just want to know what the standards are,”\u00a0Hoskinson added.<\/p>\n Ethereum’s securities status has been a controversial issue for years. In 2018, top SEC official William Hinman stated that the second largest cryptocurrency was a nonsecurity. However, the agency distanced itself from his speech during its legal battle with Ripple.<\/p>\n As reported by U.Today<\/u><\/a>, CFTC Chair Rostin Behnam recently reiterated his view that the second largest cryptocurrency is a commodity, which puts it in the same league as Bitcoin. However, Behnam also noted that Gensler holds a different view on the issue.<\/p>\n<\/a><\/p>\n