Hoskinson Warns CLARITY Act Could Default New Tokens as Securities

Cardano co-founder Charles Hoskinson recently issued a strong critique of the proposed CLARITY Act in the United States, calling it a "shockingly bad bill" and warning that the legislation could have profound negative impacts on the U.S. crypto industry. Hoskinson pointed out that the bill's definition of crypto assets is too broad, and if passed without amendment, it would lead to the vast majority of new projects being automatically classified as securities upon launch, thereby forcing them into the strict regulatory framework of the Securities and Exchange Commission (SEC). This mechanism would subject startup projects to high compliance costs and legal risks, greatly inhibiting innovation. He emphasized that many blockchain projects issue tokens that are essentially utility tokens, used to access decentralized services or network rights, rather than investment contracts, and should not be uniformly regarded as securities. Hoskinson called on lawmakers to re-examine the provisions and establish regulatory standards based on technical use rather than default presumption, in order to balance investor protection and technological innovation.