Cardano Founder Blames Omnibus Approach for CLARITY Act's Collapse
Charles Hoskinson, founder of Cardano, has spoken out on why the CLARITY Act failed to pass US legislation. According to him, the bill's failure was due to Washington's attempt to regulate the entire digital asset ecosystem at once, rather than taking a modular approach. This strategy, which Hoskinson calls 'omnibus,' overloads agencies like the CFTC and undermines decentralized finance.
Hoskinson criticized lawmakers for not consulting extensively or building bipartisan consensus on key regulatory questions. He also stated that the bill's collapse is preferable to flawed legislation, as it may preserve healthier regulatory outcomes for crypto and Cardano adoption.
As reported by CoinEdition, Hoskinson had predicted this failure over a year ago, citing his familiarity with the US legislative sector and his work with lawmakers. The Cardano founder emphasized that he was not surprised by the bill's collapse, stating it was better to have no legislation than flawed regulation.