Cardano’s Charles Hoskinson has said that he does not believe the US Digital Asset Market Clarity Act (DAMCA) will be passed this quarter, and has called for President Donald Trump’s crypto advisor, David Sacks to resign.
Hoskinson criticized Bitcoin interviewed Bitcoin on Sunday about the US regulatory approach towards crypto.BTCScott Melker, a Wolf of All Streets podcast enthusiast..
“I don’t think the CLARITY Act is going to pass this quarter,” Hoskinson warned, saying that, if Democrats win control of US House of Representatives at the November midterms, it could mean the end of this window of opportunity to pass the legislation.
“If it doesn’t pass this quarter, I think Sacks should resign,” He added that Sacks was to blame for the situation. “utterly failing” Crypto industry in existence since taking on the role of Trump’s crypto czar In late 2024.
CLARITY Act to be voted on by Senate committees on Thursday
Introduced Then, in the year 2025, there will be a new CLARITY Act Both the House Financial Services Committee as well as the House Agriculture Committee approved the bill with bipartisan support.
This document seeks clarification of the role of the Securities and Exchange Commission and Commodities Futures Trading Commission as they regulate cryptocurrencies and provides guidance about different token types.
Senate Agriculture and Banking Committees expected to vote on the bill on ThursdayThe crypto-industry in the US could be at a major milestone.
Hoskinson claimed that Sacks was wrong to express doubts about the bill’s passage. “failed” Three areas are affecting the construction industry: the falling price, the lack of clarity in the regulatory framework, and the weakening of the foundations for new building projects.
“If you’re the czar and you’re in charge of this whole thing, I got to judge you by your track record. Most cryptos are down 40 to 50% since Trump took office. So the industry is unhealthy,” He said.
Hoskinson claims that US crypto-policy is failing, from Trumpcoins and GENIUS Act to Trumpcoin.
Hoskinson, in addition to highlighting the struggles of the industry, also said that bills such as stablecoin-related GENIUS ActFavor large financial institutions rather than retail investors.
“It [GENIUS Act] centralizes the industry around BlackRock, Cantor, Goldman Sachs, and Morgan Stanley and all these big guys,” He added that the bill is essentially a re-write of the original. “handed Wall Street the keys to the crypto kingdom.”
Related: Coinbase could pull CLARITY Act support over stablecoin rewards ban
Seizing the opportunity to address Trump’s stance on crypto including controversial Trump memecoinHoskinson urged US to not favor or nationalize crypto, warning that it should be a neutral, global product.
“There’s no such thing as an American crypto. You can have American cryptocurrency companies, but you can’t have American cryptocurrency protocols. That doesn’t make sense.”
Hoskinson argued that the crypto industry should work together and with the US government to pass laws, rather than rush them through for political gain.
“Even if it takes longer to get done, the goal should be to pass rules that last and don’t harm innovation,” He said.
Magazine: How crypto laws changed in 2025 — and how they’ll change in 2026
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Source: cointelegraph.com
