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Charles Hoskinson, founder of Cardano (ADA), said that although the Foreign Securities Trading Federation (SEC) has launched a severe attack on Kraken's encrypted online transactions, ADA still has a solid foundation.

Hoskinson pointed out in a recent video on YouTube that the objective fact that the SEC accused Kraken of violating the securities law and granting pledge loan service projects will drive a broader discussion on this problem nationwide.

Kraken paid a penalty of US $30 million and canceled the chips in the platform, thus overcoming this problem.

However, Hoskinson indicated that the SEC did not regard the blockchain project of ADA as a security just because of the mortgage involved, but rather as a form of building a mortgage service project for customers on the Kraken service platform.

"Obviously, there is going to be a national discussion about these things, especially now Kraken and everyone are involved in it. It seems that no one is trying to say 'Oh, come on, now turn the underlying assets into securities in some way'. You may see many FUDs (fear, variability and suspicion)." Said on Twitter, Reddit and other places, "Well, if the mortgage is a security, it means that the underlying asset is. So Ethereum is now a security.". Or ADA is now a security agency

It makes us very clear that we can put wheat (a commodity) or gold (a commodity spot) into a certain kind of outer packaging or system, in which the packaging is a security, or you can use it to carry out activities under control. But this does not guarantee the safety of wheat or gold. Therefore, you do not have this transitivity. In this case, my solution to the equity pool may speculate about the problems of the underlying assets. You haven't seen all the attempts to do this yet. "

However, Hoskinson recognized that the next step of government departments in the field of regulatory encryption is unpredictable to some extent. He also expressed concern that if the government department took effective measures to improve mortgage control, it might not be able to distinguish different types of encrypted mortgage entity models, such as ADA model and ETH entity model.

"Now, it is very obvious that the government is unpredictable, and the factual evidence situation is likely to change. You see that things are the same as you, so we will cross the bridge, which may happen. But as far as the current situation is concerned, the ecosystem is a little better. So I don't think there is any problem with the current situation of Smano. I don't think there are other problems with our own investment model. Unfortunately, the Ether is being compared with Cardano cooperates, which is easy to drag everyone to an uncomfortable position. "

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