- Charles Hoskin released the new Surprise AMA video on his YouTube channel.
- He mentioned the rumors regarding the end of the SEC-Ripple case that began in 2020.
- He added that the decentralized exchanges are under the control of the public and that it’s the public that decides their further growth.
Charles Hoskinson, the American entrepreneur and the co-founder of the blockchain company Input Output Global and Cardano, released his new Surprise AMA video on his YouTube channel. While answering many questions, he mentioned the rumor that the case charged by SEC on Ripple would be settled.
Previously, in December 2020, the US Securities and Exchange Commission(SEC) alleged Ripple for raising funds, “beginning in 2013, through the sale of digital assets known as XRP in an unregistered securities offering to investors in the U.S. and worldwide”.
After the last month’s court hearing, there had been rumors emerging that the case would come to an end soon with a positive result for Ripple Labs. At the end of November, the court ordered SEC to hand over the “Hinman documents”, which were submitted to the SEC on October 20.
The Ripple General Counsel, Stu Alderoty commented that SEC is “acting outside their legal limits”:
The filings show that the SEC is acting outside their legal limits. The SEC is not looking to apply the law – they are looking to remake the law in the hopes that it can impermissibly expand their jurisdiction.
In the video, while discussing about the plans he has for overcoming the obstacle of SEC considering Cardano ADA as a “security”, he told that there are a lot of regulations that the firm should go through. He added that since the enforced regulations are “hypothetical”, there hadn’t been anything from the history of Cardano that seems securities.
Further, he mentioned about the rumor that the Ripple case would be ended by December 15, that would have “catastrophic impliacations for the industry one way or the other”. He added that as crypto firms are decentralized, the further growth of the company is decided by the public as the public that governs them.