Cardano Founder Accuses Ripple of Gaming Regulatory System

Cardano founder Charles Hoskinson has publicly criticized Ripple and its CEO Brad Garlinghouse, claiming they are using their influence to shape the CLARITY Act in ways that benefit themselves while harming others.

Hoskinson's central argument is that the bill would effectively make every new blockchain project a security by default, except for Ripple and XRP. He believes this is not a coincidence, but rather a deliberate attempt by a well-funded company to lock in its own position while excluding others.

One of his main concerns is the potential liability for open-source developers under the bill. According to Hoskinson, the current language could expose independent developers to unlimited legal liability simply for building on a blockchain. This could have devastating consequences for the industry, which relies heavily on open-source code.