Cardano Founder: Ripple's support for the "Clarity Act" mainly stems from its own interests rather than defending industry interests

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Golden Finance reports that on March 30, Cardano founder Charles Hoskinson said that the current version of the “Clear Act” may protect Ripple and XRP, but it puts smaller-scale projects at risk. He specifically warned that the bill may classify newer projects as securities while still protecting existing networks. In addition, he also warned that passing this legislation in its current form could weaken competition in the cryptocurrency space. He also noted that certain provisions could expose open-source developers to unlimited legal liability. Given these concerns, Hoskinson believes that Ripple’s continued support for the “Clarity Act” stems mainly from its own interests rather than from a desire to defend the industry as a whole.

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