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Cardano: Here’s Hoskinson’s 3-rule solution for crypto-clarity in regulations
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U.S lawmakers are divided after President Biden signed the controversial Infrastructure bill a day back. The legislation, one that contains crypto-tax provisions, will “stifle innovation” in the industry, according to Senator Ted Cruz.
Meanwhile, industry players like Coinbase and Ripple have been introducing proposals as suggestions for some regulatory clarity.
In this context, Cardano Founder Charles Hoskinson opined in a recent interview that U.S lawmakers need to introduce these three changes within its framework. He said,
“So first off, the U.S needs to move to a functional regulation system, instead of a definitional system.”
He essentially meant that regulators need to look beyond the definitions of “security, commodity, and currency.”
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