Charles made a harsh cut, and the XRP community was just opening champagne when they were poured cold water.

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CryptoFrontier
Hoskinson Calls Clarity Act 'Insanity,' Says It Would Classify XRP as Security
Charles Hoskinson, founder of Cardano, stated in an interview that the Clarity Act in its current form would classify XRP, Ethereum, and ADA as securities if those projects were founded today, contradicting celebrations from the XRP community over the bill's passage.

The Security Trap Mechanism

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