Cardano Founder Claims Elizabeth Warren Wants to Ban All Cryptocurrencies

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Cardano founder Charles Hoskinson has criticized U.S. Senator Elizabeth Warren following her latest comments opposing the current version of the CLARITY Act.

Hoskinson’s remarks come as the debate over the CLARITY Act continues to intensify, with lawmakers remaining divided over the best framework for overseeing digital assets.

During a recent interview, Warren reiterated that she supports regulating the cryptocurrency industry but argued that the CLARITY Act, in its current form, falls short.

According to her, the legislation was designed to benefit the crypto industry rather than protect consumers. She contended that the bill fails to adequately address corruption, consumer protection, national security risks, and broader economic concerns. Warren also accused the cryptocurrency industry of attempting to influence lawmakers and criticized the insufficient safeguards in the legislation.

Furthermore, she advocated for crypto regulations that prioritize retail investors, retirement savers, and national security rather than advancing what she believes are industry-friendly policies.

Reacting, Hoskinson dismissed Warren’s criticism, arguing that her opposition extends well beyond the CLARITY Act itself. He contended that her regulatory approach would damage the crypto industry rather than strengthen it.

According to Hoskinson, Warren’s stance reflects a broader effort to ban cryptocurrencies and blockchain technology, leaving little room for compromise between industry advocates and proponents of stricter regulation.

“She wants to ban all Cryptocurrencies and Blockchain technology,” Hoskinson remarked.

In a follow-up comment, Hoskinson suggested that the divide over cryptocurrency policy is increasingly becoming a generational issue. He argued that younger policymakers may be more receptive to blockchain innovation than some long-serving lawmakers.

Meanwhile, the U.S. Senate has postponed consideration of the legislation until after the summer recess. Senate Majority Leader John Thune confirmed that lawmakers will not vote on the bill until September, delaying one of the cryptocurrency industry’s most closely watched regulatory proposals.

The delay has also dampened market expectations. Prediction platform Polymarket now assigns only a 15% probability that the CLARITY Act will be signed into law before the end of 2026.

Despite the legislative uncertainty, Hoskinson remains optimistic about the long-term outlook for digital assets.

Speaking during a Midnight Discord AMA, the Cardano founder argued that as much as $10 trillion could eventually flow into the cryptocurrency market regardless of whether the CLARITY Act becomes law.

However, he emphasized that passing the legislation would significantly strengthen the United States’ position as a global leader in the digital asset industry, potentially accelerating institutional adoption and broader blockchain innovation.