Why the SEC filed a lawsuit against Binance: Charles Hoskinson's opinion

The department's case against the Binance crypto exchange is motivated. The reasons lie in the political and philosophical contradictions of the regulator regarding the very existence of digital assets. This statement was made by the creator of Cordano.

What does Charles Hoskinson say?

According to the expert, the agency will attack cryptocurrency platforms in order to implement checkpoint 2.0. The final step of this strategy will be adoption. At the same time, the central bank's digital currency, the so-called CBCD, will be launched.

The founder of Cardano also noted that an unelected number of people decided to define the terms sovereign identity, ownership of their own wallet and control of personal finances. At the same time, they want to withdraw it from users and give it to a few individuals who, in their opinion, are "enlightened".

The specialist also says that this step signals absolutely the entire cryptocurrency industry. He calls for uniting to create a common set of rules and recommendations that will be conditioned by common sense. Otherwise, everyone will slide into a dystopia. Moreover, it will be scarier than the work "1984" written by Orwell.

In the end, the creator of Cordano stressed that he expects a bright future for cryptocurrencies and the industry. Recall that on June 5, the agency filed a lawsuit against Binance. The next day, a similar lawsuit was received by the crypto exchange Coinbase.

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