How does the SEC lawsuit against Ripple affect the crypto industry?
- Cardano founder Hoskinson believes the lawsuit will not harm the crypto industry
- "Even if Ripple falls, it will have no effect."
It was a bang: after the US Securities and Exchange Commission (SEC) announced that it was suing Ripple Labs, Inc., not only did the Ripple price plummet, but fear of further effects also increased - but so far no other cryptocurrency has reacted to the SEC decision.
But besides the question of how the crypto market is responding, there are also concerns about the further development of the crypto industry. Above all, one question has come to the fore that every crypto fan or all those who have invested via eToro, for example, want to have answered: Can it be possible that the supervisory authorities destroy crypto currencies - would that also be the case with Bitcoin or Ether possible?
Charles Hoskinson, the founder of the cryptocurrency Cardano, is (still) in a positive mood: He thinks the lawsuit will have no impact on the crypto industry - regardless of how the case ultimately ends. "I think that even a fall in the cryptocurrency Ripple won't cause the entire industry to fall apart," said Hoskinson.
The Cardano founder declared 2021 to be the year in which the battle of the "Proof of Stake" would be decided. Will “Proof of Stake” turn cryptocurrency into a security or not? "No, I do not think so. But you have to take into account that there was never a judicial clarification. "