Judging by his recent post on X, Cardano founder Charles Hoskinson is still unpleased with the United States Securities and Exchange Commission (SEC). His anger hinges on how the SEC treated cryptocurrency exchanges under Gary Gensler’s administration.
It is worth noting that the regulator’s approach to the growing sector has changed since Donald Trump became the President.
Why Cardano Founder Calls out the SEC Again
In a March 17 X post, Hoskinson highlighted the SEC’s regulation-by-enforcement approach. He stated that the Commission sued everyone from the largest firms to the smallest projects.
This move cost the crypto industry hundreds of millions in legal fees.
The broader crypto market also lost billions in market capitalization. At some point, Ripple CLO Paul Grewal accused the SEC of intentionally suppressing the crypto market.
With a new administration in the US and the SEC, the crypto industry welcomed several favorable regulatory frameworks and policies.
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