Cardano's founder questions the progress of the CLARITY Act and urges the Trump administration's "crypto czar" to resign.
PANews reported on January 13th that, according to Cryptopolitan, Cardano founder Charles Hoskinson expressed doubt in an interview that the U.S. Digital Asset Markets Clarity Act (CLARITY Act) would pass in the first quarter of 2026, and called for the resignation of David Sacks, the Trump administration's head of cryptocurrency affairs. Hoskinson pointed out that since Sacks took the position in late 2024, cryptocurrency prices have fallen, regulations have lacked clarity, and the industry has failed to build a solid foundation for development.
He believes Sacks should resign if the bill fails to pass this quarter, calling him a "disappointment to the entire industry." Hoskinson also stated that the bill would be even less likely to pass if Democrats regain control of the House in the November midterm elections. He criticized current US crypto policy for favoring large financial institutions over retail investors and centralizing the industry in Wall Street firms like BlackRock, Goldman Sachs, and Morgan Stanley. Furthermore, Hoskinson reiterated that Trump-related cryptocurrency projects have caused market chaos, emphasizing that cryptocurrencies should remain global and neutral, not nationalized or politicized. He advocates for lasting and unrestrictive crypto regulations in the US, even if it takes longer.
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