Charles Hoskinson Sets the Record Straight About Cardano’s Contingent Pledge Proposal
It is reported that Charles Hoskinson, the founder of Cardano, solved the misunderstanding and criticism about his recent or gambling on Twitter. According to …
It is reported that Charles Hoskinson, the founder of Cardano, solved the misunderstanding and criticism about his recent or gambling on Twitter. According to Hoskinson, the contingent pledge proposal does not mean that the KYC system will be implemented on Cardano. In the pledge proposal, Hoskinson hopes that the pledgor and the equity pool operator (SPO) will reach a formal agreement to meet all the regulatory requirements of the SEC. In addition, the founder also claimed that the pledge model would make the Cardano agreement more comprehensive.
Cardano founder: hope the pledgor and equity pool operator reach a formal agreement to meet the regulatory requirements of the SEC
Interpretation of the news:
Recently Cardano’s founder, Charles Hoskinson, faced criticism due to his tweets related to the Contingent Pledge Proposal. However, in response to that criticism, Hoskinson clarified that the proposal does not imply that the KYC system would be implemented on Cardano.
Hoskinson stated that Contingent Pledge Proposal intends to develop a formal agreement between the pledgor and the equity pool operator (SPO) to comply with regulatory requirements. The proposal focuses on providing a secure and compliant environment for fundraising for Cardano, which will benefit investors by mitigating the risks they face during investment.
Furthermore, the founder states that the pledge model would make the Cardano agreement more comprehensive. The model will increase the transparency and accountability amongst pledge participants, thereby removing the need for excessive auditing and improving the overall efficiency of the fundraising process.
This development indicates that Cardano is taking significant steps towards institutional adoption, which can attract larger investors who may have shied away from the project due to regulatory concerns. The contingency model offers an essential safety net for participants who can rest assured that any breach of regulatory compliance will be promptly identified and addressed.
It is important to note that regulatory compliance has long been a crucial factor for institutional investment in cryptocurrencies. Therefore, Cardano’s recent move towards addressing regulatory uncertainties will undoubtedly improve its chances of adoption by institutional investors.
In summary, Charles Hoskinson’s statement clarifies the Contingent Pledge Proposal and sheds light on Cardano’s commitment to regulatory compliance, institutional adoption, and efficiency. The implementation of this model can significantly boost the reputation and momentum of the project.
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