Chris Larsen responded to the latest statement of Charles Hoskinson about the ongoing lawsuit action of the US Securities body on Ripple.
Charles Hoskinson is founder of the biggest Proof-of-stake crypto project Cardano and also he is one of the co-founders of the Ethereum blockchain. Recently he was questioned about his opinion on the lawsuit fight by the United States Securities and Exchange Commission (SEC) on crypto companies like Ripple (XRP), during a big crypto event.
According to Hoskinson, some people in the crypto community believe there are some corrupt people in the SEC agency. In particular, Hoskinson dragged the name of XRP community and noted that XRP Community believes that corruption in SSC is only the reason behind the XRP lawsuit.
Hoskinson said that there are no clear regulatory policies on the crypto sector in the United States and this is creating a situation where the SEC is doing well with its regulatory actions. The statement by Hoskinson was sounding like he was supporting the SEC agency, instead of Ripple and it created a situation where XRP supporters started to criticize Hoskinson.
Later, Cardano’s founder explained his statement on Twitter with full clarity saying that unclear regulatory policies are creating problems on all crypto projects, and Ripple is not alone.
“Conspiracy or not, my point is that it doesn’t matter. I explained how we got here and how we need to get out. The entire XRP affair shouldn’t have happened. It’s bad for the industry and regulation through enforcement doesn’t do any good for anyone,” Hoskinson said.
Chris Larsen, the co-founder of Ripple, took to Twitter to support & protect Cardano founder against criticism for his recent statement. Larsen said that he agrees with Cardano’s founder because this is the reality that there is not any kind of rule or system, which can help to classify the crypto assets and it is a very big problem for the crypto industry.
Further Ripple co-founder said that Hoskinson is working on instrumental levels and also supporting climate initiatives to introduce a Proof-of-Useful work for Bitcoin to make the Bitcoin blockchain carbon negative.