Charles Hoskinson, the founder of Cardano, recently made sharp comments on the current state of US crypto regulation, criticizing the current policy direction and the performance of regulatory officials.

Hoskinson pointed out that since David Sacks took office as the head of US crypto regulation, the entire industry has made no substantial progress. He posed three questions in succession: "Has the coin price risen? Has the adoption rate increased? Is there solid infrastructure?" implying that the answers are all no. In his view, Sacks's performance "disappoints the entire industry" and he should resign immediately to allow more efficient candidates to take over.

Regarding the industry’s anticipated CLARITY Act, Hoskinson is pessimistic. He expressed strong doubts that the bill will pass smoothly in the first quarter of 2026. Even more concerning is that if the Democrats regain control of the House in the midterm elections, the likelihood of the bill passing will further decrease, which means the crypto industry may face a longer period of policy uncertainty and regulatory ambiguity.

On the policy front, Hoskinson criticized the current US regulatory framework as essentially a "Wall Street game," mainly serving traditional financial giants like BlackRock and Goldman Sachs, rather than truly promoting industry development. He also pointed out that controversies surrounding Trump-related cryptocurrency projects have intensified market chaos, further highlighting the disorder within the regulatory system.

These remarks reflect a fundamental obstacle in communication and coordination between the crypto industry and US regulators. As top-level policy design remains mired in internal conflicts, whether the industry can find breakthroughs in implementation and execution becomes critical.