Cardano founder Charles Hoskinson has publicly criticized Ripple CEO Brad Garlinghouse for supporting the CLARITY Act in its current form. This comes as major industry leaders pushed back on the crypto bill due to its majorly unfavorable policies.
Charles Hoskinson Calls Out Ripple CEO for Backing CLARITY Act
In a live broadcast on X, the Cardano founder attacked Ripple’s CEO for supporting the crypto bill despite the inconsistencies highlighted. This came after his public show of support for the bill. He said it’s better to have an imperfect bill rather than nothing at all.
However, this is in large contrast to what order key industry leaders thought of the draft act. For example, the CEO of Coinbase publicly distanced himself from crypto legislation because of some major concerns.
Hoskinson was shocked by the ideology from the Ripple CEO, having had past regulatory problems with the government authorities himself.
The Cardano founder has continued to show concern regarding the passage of the CLARITY Act. As CoinGape earlier reported, he blamed President Trump’s launch of meme coins as the reason why the legislation has been slow in progress. He also blamed David Sacks as well, saying he should submit his resignation if the bill does not progress.
Hoskinson has also said he does not think the legislation would pass under the current political scene. He added that the window for it to be signed into law is closing and could be stalled until next quarter.
Coinbase CEO Disputes White House Claims of Support Pull
In an X post from Brian Armstrong, he called reports of White House withdrawing their support for the CLARITY Act is inaccurate. This was in reaction to a post made by Eleanor Terrett on the current developments on the bill.
“In general, love your posts, but this is not accurate. The White House has been super constructive here,” Armstrong said.
He further revealed that the administration has been working together with them. The Coinbase CEO also revealed that all that was required from the government was for them to come up with a solution for the banks concerning the issues of yield.
Interestingly, Terrett responded to this statement that the information provided about the CLARITY Act was generally correct.
“My reporting was airtight and accurate. You also just cited the central point of my story as correct: that the White House asked Coinbase to go secure a deal on yield,” she said.
Source: https://coingape.com/cardano-founder-slams-ripple-ceos-support-for-clarity-act-despite-policy-gaps/
