The founder of Cardano (ADA), has criticized the regime of Joe Biden concerning his recent acts, with regards to barring banks and financial institutions from holding Bitcoin in direct support to the SEC. Despite the majority of votes at the house of US Senate rejecting the proposal from the SEC, the votes were not enough to deter the president of the United States of America from siging the bill of thr SEC into law. Charles Hoskinso had a few words for the president, and I quote: " Biden Administration receives criticism from Cardano founder.
Charles Hoskinson, the founder of #Cardano , made a harsh criticism of the Biden administration and claimed that President Joe Biden was taking action to sabotage the American cryptocurrency industry. Hoskinson's statements in the May 9 video reveal his criticism of systematic attempts to stifle crypto innovation in the United States.
“A vote for #Biden is a vote against the American cryptocurrency industry,” Hoskinson said. He did not mince his words. He criticized the government for its stance on crypto regulations, listing a number of moves he believes are hindering the development of the industry.
The Securities and Exchange Commission (SEC) has called Cardano's founder overly aggressive in regulating, highlighting restrictive government regulations, especially when it comes to accessing banking services. Recently, he also pointed out various actions taken by the White House, accusing them of hindering the legislature's efforts to support the crypto industry.
President Biden's stance against legislation proposing to overturn SEC rules put in place to deter banks from dealing with crypto assets was a particularly sore point for Hoskinson. The White House issued a statement saying such actions were highly undesirable and vital to protect investors and the broader financial system."
