Cardano founder Charles Hoskinson talked about crypto regulations in the US. Hoskinson said that US institutions are not ready to regulate crypto.
Hoskinson gave a speech at the Financial Times’ Crypto and Digital Assets Summit. Addressing regulatory efforts, Hoskinson explained why US regulators have a hard time regulating cryptoassets. According to him, US regulators are ill-equipped to address the revolutionary nature of cryptoassets and are not yet ready to regulate cryptoassets. Hoskinson said in a statement on the subject:
“In the US, we organize by category, we call something a security, something a commodity and something a currency. Regulators are then built around these categories that specialize in these areas.”
But on the other hand, he stated that Bitcoin can be viewed as a currency or gold or a commodity. This makes it difficult for regulatory agencies to limit these assets and thus regulate them.
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