Cardano Founder Charles Hoskinson Slams SEC’s Attack on Crypto: ‘’They Would Have Danced on Bankrupt Grave’’

Cardano founder Charles Hoskinson has caused media buzz by announcing the ending of the “war on digital assets” in the United States. The industry’s crypto sector has endured numerous years of regulatory pressure, which led him to make this statement. Hoskinson attacked the U.S. Securities and Exchange Commission (SEC) for unnecessarily targeting the cryptocurrency sector, causing permanent harm. Hoskinson’s comments have stirred extensive discussion about his views, as some support and others defend the SEC’s choices.

Throwing Stones at the SEC: Hoskinson States His Position

During an emphatic statement, Hoskinson condemned the aggressive SEC tactics toward the cryptocurrency sector, resulting in the industry’s universal criminal branding. The SEC has pursued multiple legal actions against companies from all size ranges, costing firms millions to defend themselves while destroying value worth billions. Hoskinson has strongly criticized the SEC through his statements, demonstrating his opinion that the regulatory body breached its powers in a way that obstructed crypto market development.

So the SEC goes after our industry, makes us all criminals, brutally sues everyone from the largest firms to the smallest projects, costs the industry hundreds of millions of dollars in legal fees, erases hundreds of billions in market caps, then cries fowl when the industry…

— Charles Hoskinson (@IOHK_Charles) March 17, 2025

According to Hoskinson, the relationship between the crypto industry and the SEC exhibits contradictory behavior since the agency treats industry members unlawfully but complains when they act in self-defense. He stressed that the unaccountable “career federal employees” led these regulatory actions but lacked any responsibility for their destructive impact on the industry. ‘’They would have danced on the bankrupt graves of our projects and used it to gain promotions and higher office,’’ Charles Hoskinson added. 

The Fallout: SEC’s Actions and the Backlash

Hoskinson’s remarks have provoked cryptocurrency stakeholders to confront the SEC’s position regarding its stringent regulatory measures. Numerous critics hold former SEC chairman Gary Gensler accountable for the aggressive regulatory actions as the main target of criticism. The former CEO of IOHK has further explained that the ‘’intended effects the SEC wished to achieve through litigation would have fatal consequences for many crypto projects.’’

His assessment reveals that the SEC once envisioned utilizing bankrupted projects to secure promotions and higher positions after they achieved their case success. Members of the crypto community experience widespread bitterness about governmental actions that threaten to undermine blockchain technology development and digital asset devices. Many industry professionals agree with Hoskinson that the SEC pursued its regulatory actions with more than just enforcement purposes. This is because the  SEC’s actions sought to erode blockchain industry trust and its ability to advance technology.

Legal Backlash and Debate on the Future

Hoskinson’s statements have received intense criticism from various parties. Legal professionals and industry members refute Hoskinson’s arguments as the SEC executed its duties towards investor protection and market security in emerging blockchain technology. Critics of Hoskinson’s position maintain that digital asset protection depends on government regulations that fight fraud to protect the digital asset sector’s future.

Industry professionals, along with law firms, oppose this recent approach. Multiple sources indicate SEC staff members receive resistance from law firms that have stopped taking interviews due to their work with crypto enforcement. SEC staff member William McLucas defended his colleagues against the unfair criticism directed toward them after the investigation. McLucas said ‘’the SEC staff performed duties within their role since they operated in a demanding fast-evolving digital landscape.’’

What Lies Ahead for Crypto Regulations?

Hoskinson’s compelling remarks stimulate essential discussions regarding crypto regulatory approaches ahead. Current discussions focus on discovering how much necessary oversight effectively serves innovation. Many crypto sphere supporters stand behind Hoskinson’s position regarding excessive SEC authority, but some insist regulators must establish digital asset safety measures.

Hoskinson uses his comments to express his deep anger against regulatory impediments blocking blockchain advancement. The dispute between the SEC and the crypto industry showcases an important decision-making juncture. Blockchain operations’ future success or failure depends heavily on establishing an ideal regulatory structure since the business hangs in the balance.