Charles Hoskinson criticizes Ripple CEO Brad Garlinghouse for backing flawed CLARITY Act

Cardano founder Charles Hoskinson publicly challenged Ripple CEO Brad Garlinghouse over his support for the draft CLARITY Act, labeling it a dangerous compromise instead of genuine regulatory clarity. Hoskinson argued that the bill, after 137 amendments, effectively hands control of the cryptocurrency industry to the SEC, making all new projects securities by default and requiring projects to constantly seek exemptions. He criticized Garlinghouse's pragmatic view that they must pass something imperfect, asserting that flawed legislation, like the Securities Exchange Act of 1933, is nearly impossible to change later. Hoskinson framed his opposition as defending the crypto revolution's ideals of freedom against a system where everything becomes custodial and KYC-dependent, accusing industry leaders of accepting compromised legislation for personal power and elite status.

(Source：Crypto Briefing)