Cardano Founder and Ripple CTO Share Perspectives
Ripple’s CTO, David Schwartz, and Cardano founder Charles Hoskinson have challenged the SEC’s classification of ADA as a Security. Their objections were prompted by tweets from attorney Bill Morgan, who supports XRP. Morgan argued that the SEC’s claim overlooks the transformative nature of technological progress in the cryptocurrency industry. He also pointed out that product improvements and updates do not make a product a security. Hoskinson clarified that ADA’s ICO took place in Japan and did not involve direct selling to Americans. Schwartz questioned the SEC’s argument regarding ICO transactions and subsequent sales.
parofix.com
Ripple’s CTO, David Schwartz, and Cardano founder Charles Hoskinson have challenged the SEC’s classification of ADA as a Security. Their objections were prompted by tweets from attorney Bill Morgan, who supports XRP. Morgan argued that the SEC’s claim overlooks the transformative nature of technological progress in the cryptocurrency industry. He also pointed out that product improvements and updates do not make a product a security. Hoskinson clarified that ADA’s ICO took place in Japan and did not involve direct selling to Americans. Schwartz questioned the SEC’s argument regarding ICO transactions and subsequent sales.
parofix.com
