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NEW: Charles Hoskinson says "it's nice to be on the outside sometimes, at least somebody gets to tell you what's going on the inside. What they'll do in practice, is grandfather in the Top 10 and projects that have been around for a long time. This doesn't impact #Cardano $ADA."

JUST IN: #Cardano $ADA Founder Charles Hoskinson says "you don't start with everything being a security by default, because no new project will pass the mature blockchain test, and there's no objective criteria to graduate."

JUST IN: Charles Hoskinson says "I was in the room for 3 years. 137 amendments later, they stripped out developer protection, made everything a security by default, and because it looks like $XRP and $ADA may get a pass, and be grandfathered in, we have to pass a trash bill?"