Cardano founder Charles Hoskinson has aired his disapproval of the regulatory decision taken by the United States Securities and Exchange Commission (SEC). Commenting on the SEC’s recent denial of Coinbase’s petition for a clear regulatory framework, the Cardano boss wrote in a tweet:
“Honestly, if the SEC ever wants to diversify as an agency, then they could start designing airports.”
Coinbase vs. SEC
The American financial agency oversees the trading of securities in the country. Over time, the SEC has classified crypto assets as securities, implying that these digital assets must be registered with the regulatory watchdog before being offered to U.S.-based investors.
To gain a clear insight into crypto regulations, Coinbase, the leading American crypto exchange, filed a petition last year requesting the SEC to create a new regulatory framework for digital assets. The exchange went further by securing a court order mandating the financial agency to give a response. The U.S. regulatory agency turned down the petition a few days later.
In a recent letter to Coinbase, the financial agency stated that it stands in opposition to the crypto exchange’s assessment that securities laws should not include the digital asset industry.
What Does Hoskinson’s Tweet Mean?
Charles Hoskinson’s comment suggests that he is not in tandem with the SEC’s denial. His tweet, which appears as a way of mockery, gives the idea that if the financial watchdog delves into the airline industry, things will not go well.
Possibly envisioning what the SEC-designed airport could look like, the Cardano boss attached a link to a 14-year-old YouTube video. The video portrayed customers’ disappointing comments about Prague’s Franz Kafka International Airport, an airline ranked as the world’s most alienating airport.
The Cardano founder’s tweet implies that the SEC is not doing a good job by disapproving of Coinbase’s efforts to get clear regulations that will govern how cryptocurrencies are offered and traded in the country.
