TL;DR Breakdown
• The Cardano CEO is against the legal plan on cryptocurrencies and speaks out on Twitter.
• The law plan could be activated during the day or be absent for a few days.
The Cardano’s founder, Charles Hoskinson, urges the crypto community to reveal itself. Hoskinson is against the general policies that the United States government proposed on cryptocurrencies.
Since August, Hoskinson has been active on social networks such as Twitter. The IOHK CEO even asked crypto advocates to show their claims against the crypto bill. This would be an extraordinary move to goad the organizations at the forefront of crypto regulations.
Cardano CEO Tweets are trending
Cardano’s CEO started the dispute over the cryptocurrency legal plan with a clear and precise tweet. Hoskinson said it is time to hold a rally in the capital city to prevent the crypto law plan from being completed. The executive also plans to make important phone calls so his plan can be completed.
Following the statements on Twitter, Hoskinson uploaded a 10-minute YouTube video where he spoke about unfortunately developing crypto. The Cardano creator motivated American citizens to support a new reform that favors the cryptocurrency market in the territory.
Hoskinson adds that the crypto community will be watching the bill and proposes to hinder progress. The executive’s goal to hold an assembly against the bill would not be complete without the crypto investor community in the United States. Enthusiasts have to vote against tax reforms that affect free trade in cryptocurrencies.
A tax plan that will affect cryptocurrencies
For days there has been talking about the tax plan that will affect cryptocurrencies such as Bitcoin, Cardano, and other tokens. This project is supported by the president of the United States, Joe Biden, justifying all transactions that exceed $10,000. All these transfers must be reported to the IRS, which is the regulatory authority in North America.
This proposed reform may cause the cryptocurrencies trading like Cardano to be limited in the United States and indirectly in several countries. The legal plan could begin today after at least 70 senators voted in its favor. However, following Hoskinson’s announcements, this bill may be delayed for days or weeks.
There is still no official announcement yet on whether the cryptocurrency bill has passed. For now, cryptocurrencies have not been affected by these announcements that cause so much tension among investors.
Even ADA has experienced a rise in its value, trading at $1.56 with a peak of 5.37 percent in 24 hours. Bitcoin is trading at $45,395 with a slight decline of 1.17 percent in 24 hours, according to CoinMarketCap.
