As in every criticism made by the crypto community towards Cardano, its founder, Charles Hoskinson, came to its defense. This time, he defended ADA from Michael Saylor, CEO of MicroStrategy.
Moreover, Stadelmann added that nobody knows what the future holds. But it is important to recognize that major companies like BlackRock and FIdelity have done due diligence and applied to roll out spot Ethereum ETFs to the market. If the SEC rejects these applications, the companies could sue the regulatory agency because similar products in the markets have been approved.
“Bitcoin is far more established than altcoins. Big companies have conducted a thorough review of Bitcoin – not other crypto assets – and it took them a very long time to do so. However, many people have not heard about Cardno or Ripple, and many know nothing about Ethereum. The unclear regulatory guidelines – due to US Congress’ failure to act – makes the future of Ethereum and other altcoins ETFs uncertain. Without a clear framework an entire industry has been left waiting for clarity,” Stadelmann told BeInCrypto.
It is worth noting that Cardano is on the US Securities and Exchange Commission (SEC) list of securities, along with tokens such as Solana, Polygon, Cosmos, Sandbox, Decentraland, and Algorand, among others.
