Charles Hoskinson, the founder of IOG, has publicly addressed comments made by Michael Saylor regarding Cardano and its native cryptocurrency, ADA. During a recent event, Saylor, a noted Bitcoin enthusiast and executive at MicroStrategy, predicted regulatory challenges for various altcoins, including ADA. He suggested that the SEC would classify them as unregistered securities. The Bitcoin for Corporations 2024 event, where Saylor spoke, occurred in early May.

Charles Hoskinson has responded on the social media platform X. He used dark irony to highlight the negativity he perceives from Bitcoin maximalists toward altcoins. His retort underscored the frequent claims by Bitcoin advocates that all cryptocurrencies other than Bitcoin are potentially illegal or scams.

This exchange marks another instance in the ongoing debate between supporters of Bitcoin and proponents of other cryptocurrencies. Hoskinson’s reply on social media indicates a strong defense of Cardano’s status and potential regulatory scrutiny.

Saylor Predicts SEC Classification: Altcoins as Securities

Saylor’s comments have stirred significant discussion within the cryptocurrency community. He asserted that Ethereum, along with other major altcoins like BNB, Solana, XRP, and Cardano, will be deemed securities. This classification could affect how these coins are traded and regulated in the United States.

The Bitcoin maximalist’s viewpoint aligns with a broader narrative. Some in the crypto community believe that Bitcoin remains the only true decentralized digital currency. Saylor’s stance at the Bitcoin for Corporations event underscores this belief.

The potential classification of these altcoins as securities by the SEC has raised concerns among investors and developers. The classification could lead to more stringent regulatory requirements and limit their market participation compared to Bitcoin.

Charles Hoskinson Rebukes “ADA is Dead” Claim by Armstrong

Earlier, Charles Hoskinson addressed criticisms from Ben Armstrong, a well-known crypto influencer who claimed that “ADA is dead.” Armstrong’s video raised concerns about Cardano’s progress relative to other blockchain projects. Hoskinson responded quickly, expressing disappointment in Armstrong’s negative stance.

Hoskinson’s response was personal. He noted Armstrong’s previous friendly demeanor and expressed regret over the turn of events. His comments on social media platform X conveyed a wish for the best for Armstrong despite the disagreements.

Read Also: Bitcoin Resurgence: Whales Snap Up $2.8B BTC in 24-Hour Blitz

The post Charles Hoskinson Claps Back at Michael Saylor’s ADA Claims appeared first on CoinGape.

---

Filed under: News - @ January 1, 1970 12:00 am