Charles Hoskinson addressed the criticism he received for his remarks about XRP and Brad Garlinghouse, stating the situation was exaggerated. He explained that portions of his comments were edited and circulated in a misleading way.
He explained that people aren’t paying attention to the complete picture. He specifically stated he was referring to Brad Garlinghouse’s involvement with cryptocurrency rules, and wasn’t making a personal attack against him.
According to Hoskinson, the proposed bill would essentially classify everything as a security unless proven otherwise – a tactic reminiscent of how Gary Gensler previously regulated his own area. Hoskinson believes this bill won’t succeed because its sponsor will likely receive an exemption, ultimately limiting competition.
Charles Hoskinson explained that the CLARITY Act could classify the majority of cryptocurrency projects as securities automatically, much like the approach taken by Gary Gensler.
What He Said Earlier About XRP and the Bill
Previously, Hoskinson had been very critical of Garlinghouse’s backing of the CLARITY Act. He described the bill as terrible, arguing it could benefit large companies like Ripple at the expense of smaller projects.
He explained that new projects will likely face immediate and rigorous regulations, requiring them to demonstrate they aren’t considered securities. He also worried that companies such as Ripple might receive special treatment, potentially creating an unfair advantage.
He also warned that regulators might apply this new approach to a wider range of projects, potentially hindering innovation and reducing competition.
Where Things Stand Now
He still opposes the bill, but now explains his criticism was intended to benefit the industry overall. He described his approach as ‘tough love,’ emphasizing that he’s concerned with the long-term consequences, not just the XRP cryptocurrency.
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2026-04-07 09:52