Charles Hoskinson posted an extensive tweet commenting on the SEC’s lawsuit against the largest cryptocurrency exchange, Binance. After reading the 130-page complaint from the regulator, the businessman called it “a massive program to strangle the crypto industry” and drive it out of the United States financial system.. The ultimate goal of the campaign is to introduce a digital dollar, through which the U.S. Federal Reserve (Fed), with the participation of big banks, can gain complete control over the finances of citizens, Hoskinson suggested:
“The SEC’s actions appear to be a political and philosophical disagreement with the very existence of cryptocurrencies. Some group of people arbitrarily decided that the people were forbidden to have their sovereignty, to own their own wallet, and to control their own finances. I decided it should only be available to a select few.
Cardano’s founder thinks the SEC’s actions could lead to a dystopia that would make “Orwell’s 1984 look like a vacation” by comparison. Hoskinson was referring to George Orwell’s novel 1984, set in a totalitarian society ruled by one party. The party controls every aspect of the lives of the country’s citizens, constantly observing them and sowing propaganda. Hoskinson believes that to fight the SEC filing lawsuits against crypto exchanges, the industry must come together and adopt common-sense guidelines that will prevent “the U.S. from slipping into an anti-utopia.”
A few months ago, when the SEC began investigating the Kraken exchange, Charles Hoskinson criticized the agency and its chairman, Gary Gensler, accusing officials of lying.