Cardano and Ripple clash over CLARITY Act support

Cardano’s Hoskinson criticizes Ripple’s Garlinghouse for supporting the CLARITY Act, arguing it empowers the SEC and favors big firms, deepening divisions in the crypto industry.

A heated debate has emerged in the crypto industry as Cardano’s Charles Hoskinson publicly criticizes Ripple’s Brad Garlinghouse for backing the Digital Asset Market Clarity Act (CLARITY Act). Hoskinson, who previously supported the bill, now argues it grants excessive authority to the SEC, risks classifying most crypto assets as securities, and could stifle innovation by favoring large firms like Ripple over smaller projects. He attributes the bill’s shift to recent political maneuvers, including the involvement of a Trump-linked meme coin, which he claims has made the legislation a partisan issue and eroded bipartisan support. Hoskinson warns that the bill’s flaws could become entrenched and urges industry leaders to prioritize integrity over settling for imperfect regulation. In contrast, Garlinghouse insists that any statutory framework is better than ongoing uncertainty, emphasizing the urgent need for regulatory clarity. The clash underscores deep divisions within the crypto sector over strategy, timing, and the best approach to US digital asset regulation, with some leaders withdrawing support and others warning of missed opportunities if consensus is not reached soon.