{"id":37952,"date":"2022-12-13T01:23:03","date_gmt":"2022-12-13T01:23:03","guid":{"rendered":"http:\/\/egrowonline.com\/?p=37952"},"modified":"2022-12-13T01:23:03","modified_gmt":"2022-12-13T01:23:03","slug":"cardano-founder-ada-is-not-a-security-but-theres-no-telling-whom-sec-will-fight-next","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=37952","title":{"rendered":"Cardano Founder: $ADA Is Not a Security but There&#8217;s No Telling Whom SEC Will Fight Next"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>Charles Hoskinson, Co-Founder and CEO at\u00a0Input Output Global\u00a0(\u201cIOG), the blockchain technology firm responsible for the development of Cardano ($ADA),\u00a0has recently commented on what would happen if U.S. regulators were to consider $ADA a security.<\/p>\n<p>During an ask me anything (AMA) session on YouTube, Hoskinson commented on the potential scenario, saying that there is \u201cnothing in the history of Cardano that feels security-like, from the beginning to where it\u2019s at today to the fact that the network is fully decentralized and so forth.\u201d<\/p>\n<figure class=\"wp-block-embed-youtube wp-block-embed is-type-video is-provider-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<div class=\"jeg_video_container jeg_video_content\"><iframe loading=\"lazy\" title=\"Surprise AMA 12\/10\/2022\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/EW2QDxVlpIY?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<\/figure>\n<p>Hoskinson added that he would believe that if $ADA were to be considered a security, other top cryptocurrencies like Ethereum ($ETH) and Bitcoin ($BTC) could also be considered securities. Per his words, this is a \u201cproblem with regulation through enforcement,\u201d as \u201cany given Sunday, it\u2019s whoever the regulators decide to pick there\u2019s a big fight.\u201d<\/p>\n<p>He added that these fights lead to significant amounts being spent on legal fees and \u201cit\u2019s brutal and vicious and a lot of hard feelings.\u201d Hoskinson also commented on the SEC\u00abs lawsuit against Ripple and two of its executives alleging they \u201craised over $1.3 billion through an unregistered, ongoing digital asset securities offering.\u201d<\/p>\n<p>            <!-- Inline ads (all screen sizes) --><br \/>\n            <!-- Primis --><\/p>\n<p>            <!-- Inline ads (xs-lg screens) --><br \/>\n            &lt;!&#8211;<\/p>\n<div class=\"d-xl-none\">\n<div class=\"g-pt-30 g-pb-30 text-center\">\n                    Not in use\n                <\/div><\/div>\n<p>            &#8211;&gt;<\/p>\n<p>            <!-- Inline ads (xl screens) --><br \/>\n            &lt;!&#8211;<\/p>\n<div class=\"d-none d-xl-block\">\n<div class=\"g-pt-30 g-pb-30 text-center\">\n                    Not in use\n                <\/div><\/div>\n<p>            &#8211;&gt;<\/p>\n<p>After nearly two years, the lawsuit is believed to be coming to an end as both parties have requested a summary judgment. Hoskinson himself noted the end may be near saying:<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>I\u2019ve heard rumors that the Ripple case will be settled December 15th. Let\u2019s just see. That could have catastrophic implications for the industry, one way or the other. But you just keep moving forward.<\/p>\n<\/blockquote>\n<p>Regardless of the outcomes, Hoskinson said that the US does not \u201cget to say that Cardano lives or dies,\u201d but the community does. As reported, the number of smart contracts deployed on the network has <a target=\"_blank\" href=\"https:\/\/www.cryptoglobe.com\/latest\/2022\/12\/cardano-ada-networks-smart-contracts-surge-past-4000-after-september-update\/\" rel=\"noopener\">grown by more than 340% year-to-date<\/a> as developers keep on working in the cryptocurrency\u2019s network, despite the ongoing bear market.<\/p>\n<p>Plutus, it\u2019s worth noting, is the \u201csmart contract platform of the Cardano blockchain\u201d that allows users to \u201cwrite applications that interact with the Cardano blockchain.\u201d<\/p>\n<p>The Cardano network has recently reached a new milestone with the\u00a0<a target=\"_blank\" href=\"https:\/\/www.cryptoglobe.com\/latest\/2022\/11\/cardano-ada-network-reaches-new-milestone-with-first-stablecoin-launch\/\" rel=\"noopener\">launch of its first stablecoin<\/a>. Other stablecoins are being created on the Cardano network. EMURGO, which is the commercial arm of Cardano, announced the planned\u00a0launch of its new dollar-backed stablecoin USDA, which is \u201cthe first fully fiat-backed, regulatory compliant stablecoin in the Cardano ecosystem,\u201d earlier this month.<\/p>\n<h2>Image Credit<\/h2>\n<p><em>Featured Image via\u00a0<a target=\"_blank\" href=\"https:\/\/unsplash.com\/photos\/f0C1ptuSKhg\" rel=\"noopener\">Unsplash<\/a><\/em><\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/news.google.com\/__i\/rss\/rd\/articles\/CBMigAFodHRwczovL3d3dy5jcnlwdG9nbG9iZS5jb20vbGF0ZXN0LzIwMjIvMTIvY2FyZGFuby1mb3VuZGVyLWFkYS1pcy1ub3QtYS1zZWN1cml0eS1idXQtdGhlcmVzLW5vLXRlbGxpbmctd2hvbS1zZWMtd2lsbC1maWdodC1uZXh0L9IBAA?oc=5\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Charles Hoskinson, Co-Founder and CEO at\u00a0Input Output Global\u00a0(\u201cIOG), the blockchain technology firm responsible for the development of Cardano ($ADA),\u00a0has recently commented on what would happen if U.S. regulators were to consider $ADA a security. During an ask me anything (AMA) session on YouTube, Hoskinson commented on the potential scenario, saying that there is \u201cnothing in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":37953,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[44],"tags":[340,266,64,441,605,1349,8886],"class_list":["post-37952","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ada","tag-ada","tag-cardano","tag-fight","tag-founder","tag-sec","tag-security","tag-telling"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/12\/1670894582_Cardano-coin-on-green-red-and-white-background-768x511.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/37952","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=37952"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/37952\/revisions"}],"predecessor-version":[{"id":37954,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/37952\/revisions\/37954"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/37953"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=37952"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=37952"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=37952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}