Charles Hoskinson, creator of Cardano, spoke about the Ripple case of the US Securities and Exchange Commission (SEC) and the agency's claim that XRP is an unregistered security.
In a series of AMA videos, Hoskinson says part of the problem with regulating crypto assets is that tokens are dynamic and difficult to categorize.
βThe problem with cryptocurrencies is that they do everything and nothing. And some days they look like securities, some days they look like commodities, some days they look like currency, and some days they look like something else entirely. In many ways, cryptocurrencies are the stem cells of finance. A stem cell is like a super cell and can basically be a heart cell or a brain cell or the like. And editing is a little difficult. "
At this point in XRP's eight-year history, Hoskinson said in its early days that he did not believe it was a security, although his situation was different.