Cardano founder Charles Hoskinson has launched a public attack on Ripple CEO Brad Garlinghouse over his support for the proposed Digital Asset Market Clarity Act (CLARITY Act). In a recent video, Hoskinson expressed deep skepticism about the bill's chances of passing in the current political climate and criticized its potential impact on innovation.
Hoskinson argued that the CLARITY Act, a U.S. bill aimed at classifying digital assets and providing regulatory clarity, could favor certain companies while harming others. "The law is not perfect, and favoring one company over others can backfire," he stated, warning that blind support could confuse the public and stifle market growth. He specifically mocked Garlinghouse for openly backing the bill, suggesting it shows disregard for smaller projects.
The Cardano founder placed significant blame on the Trump administration's appointed "Crypto Czar," David Sacks, and the launch of a Trump-branded meme coin for destroying the bipartisan support the bill originally had. Hoskinson claimed the bill had a strong chance of passing until crypto regulation became a partisan issue. He warned that the "window" for passing the legislation is closing and expressed doubt it would pass during the current quarter.
In contrast, Brad Garlinghouse has positioned himself as a supporter of the CLARITY Act, arguing that an imperfect bill is better than the current lack of regulation. He believes the industry cannot afford to wait for a "perfect" bill and that establishing any statutory framework represents a victory for legal certainty and investor protection.
The clash has sparked significant debate within the crypto community, with Cardano supporters largely agreeing with Hoskinson's points while some defend Garlinghouse's pragmatic approach. The controversy highlights the ongoing tension between regulation and innovation in the cryptocurrency space, with the outcome potentially setting important precedents for U.S. crypto policy.
