Cardano denies SEC’s ‘security’ claim as ADA bleeds

Cardano vehemently denies SEC's 'security' claim as ADA continues to bleed

, the seventh-largest crypto asset by market cap and one of the most popular smart contracts platforms.

to the regulator’s allegation. IOG referred to the SEC’s submission as having numerous factual errors and vehemently refuted all claims.IOG went on to call the action “regulation by enforcement” and questioned the agency’s clarity in understanding blockchain technologies. Earlier, Cardano founder Charles Hoskinson responded to SEC’s action on crypto behemoth Binance. He called it an all-0ut attack on the existence of cryptos to create a system dominated by central bank digital currency and other central authorities.

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