Charles Hoskinson Talks About Reasons Behind SEC Lawsuit Against Binance

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Charles Hoskinson believes that the US Security and Exchange Commission’s (SEC) case against the Binance Bitcoin exchange is driven by its “political and philosophical disagreement” about cryptocurrencies.

He anticipates that the Commission is trying to pave the way to implement what he dubs “checkpoint 2.0,” which would eventually lead to the adoption of central bank digital currencies.

According to the creator of Cardano, these powerful people have decided to remove personal wallet and finance freedom rights from the public and give them to an “enlightened few.”

He urges the crypto industry to work together and create reasonable rules and regulations, warning that the US will otherwise face a “dystopia” worse than George Orwell’s 1984.

Despite the current situation, Hoskinson still looks forward to a “bright future” for digital asset users.

On June 5, the SEC filed charges of unregistered securities sale against Binance and Changpeng Zhao. Not long after, similar accusations were made against crypto exchange FTX and its subsidiary Alameda Research.