Cardano founder steals the show at Congressional hearing on crypto regulation

At a U.S. Congressional Committee hearing on June 23, Cardano founder Charles Hoskinson gave his take on the future of crypto regulation.The purpose of the hearing was to discuss the effectiveness of current regulations with the view to implementing a future framework.

A lack of regulatory clarity is a sore point for the industry. Recent times have seen this play out in numerous examples of heavy-handed enforcement action at the hands of U.S. regulators. Therefore, regulation should focus on principles rather than formulating particular rules for individual events. The Cardano founder gave deciding on which risks to safeguard against, what rights users should have, and how to use tools for the “greatest possible good,” as examples of principles.

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