Hoskinson: Clarity Act Would Be the SEC's 'Wet Dream'
Cardano founder and early Ethereum contributor Charles Hoskinson on Wednesday criticized the latest draft of the U.S. Clarity Act, calling it the SEC’s “wet dream.” He said the bill’s broad language and enforcement provisions could effectively expand the regulator's reach, subjecting a wide range of tokens and services to securities rules and raising compliance and litigation risks for projects and retail holders.
The debate matters because statutory changes at the federal level would reshape how exchanges, staking services and DeFi protocols operate in the U.S., with potential knock-on effects for ADA and other tokens’ availability and costs. Hoskinson’s remarks add to industry pushback as lawmakers consider revisions; observers say clearer, narrower definitions will be key to avoiding unintended damage to blockchain innovation and capital formation.