Cardano co-founder Charles Hoskinson has criticized U.S. regulators for categorizing ADA and other cryptocurrencies as unregistered securities while giving bitcoin a pass. Hoskinson argues that bitcoin could also meet the legal criteria of an investment contract due to the broad nature of securities laws. The Securities and Exchange Commission (SEC) chairman, Gary Gensler, has suggested that most cryptocurrencies, excluding bitcoin, are securities, creating legal obstacles for firms in the industry. Hoskinson believes that if the SEC could get away with it, they would label bitcoin and Ethereum as securities as well. He supports the drafting of new legislation by the U.S. Congress to establish clear rules for the crypto industry. Currently, Binance, Coinbase, and Kraken are being sued by the SEC for securities violations.

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Information	Details
Geography	North America
Countries
Sentiment	negative
Relevance Score	1
People	Charles Hoskinson
Companies	Kraken, Coinbase, Securities and Exchange Commission, Binance
Currencies	Bitcoin, Cardano
Securities	None