On the live broadcast on February 4, 2025, Charles Hoskinson, the founder of Kardano and CEO of Input Output Global (IOG) handed over a strict reprimand plan to develop state -backed Stablecooin. Hoskinson claims that “freezing and taking” requirements of encrypted tools to prevent or reverse transactions – not publicly disclosed in the appropriate product requirements document (PRD), with the exception of Cardano effectively and other major Blockchain platforms of competition.
Cardano Slams Wyoming’s Stablecoin as CBDC
Hoskinson comments Focus on the absence of transparency in the Wyoming purchase process. According to him, the state failed to publish or share detailed PRD that defines the main features that should be, such as the ability to freeze or seize symbols under certain legal or regulatory conditions. He says this omission not only prevents fair competition, but also poses risks to the user’s privacy and the broader Blockchain.
“We were told that it will be an open process and we will know early what the requirements of the product will be,” Hoskinson says in the video. “Instead, they hid PRD … and decided to rehabilitate the people themselves.”
It is claimed that the standards of the Wyoming selection were not disclosed until after the truth, and at this point, it was claimed that the state gave less than five days to companies to prove that it could fulfill the requirements of freezing and division. It is claimed that the ecological system of the cardano could have implemented such an advantage within about two weeks if it was explicitly included in PRD from the beginning.
To highlight the capabilities of Cardano, Hoskinson contradicts programmed groups just like Cardano and Ethereum with the so -called “fixed function” book, including XRP. The programmed chains allow developers to build new features directly in smart contracts, which means that the ability to freeze and Sexize can be added if necessary.
“On Cardano or Ethereum, if something is not supported by the protocol at all, you are writing a smart contract,” he explains. “Therefore, if we know that freezing and the leader was a requirement for the hardline product, we can simply write a contract to please it.”
Hoskinson refers to what he calls poor landmarks by officials who oversee the Stablecoin’s Wyoming project, which stated that Cardano did not meet this standard without clarifying the short schedule or unannounced requirements.
Throughout the video, Hoskinson notes that the process has been organized in favor of a specific solution of Blockchain, indicating that one of the decision makers previously worked with the platform that is distinguished for the project. And it confirms that there are no open bids or a general discussion on the important features of Stablecoin.
Hoskinson also criticizes the idea that Stablecoin from Wyoming will be a functional similar to the CPDC due to the freezing feature, leader and transparent notebook, warning that this undermines financial privacy. In his opinion, this architecture gives authorities – or even third parties – the ability to monitor all transactions and freeze funds as desired.
“If you are carrying Wyoming Stablecoin, know that everything you buy is monitored and followed,” says Hoskinson. “At any time, confiscation of civil assets … they can only seize them.” He wonders about the logic of state resources investment to build a product that competes directly with the most firm players-such as Tether or Circle-which has much larger budgets and market share.
In his statements, Hoskinson emphasizes the economic challenges that Stablecoin may face from Wyoming, noting a modest budget of $ 5.8 million and a fast -shift organizational environment. He argues that Stablecoin exporters are creating billions of revenues and can quickly burn to gain or adapt to new regulations, leaving a major room for a state -backed project to gain traction in the market.
“Tether achieved $ 13 billion last year. The department made the same thing,” he said, referring to intense competition. “You have a budget of $ 5.8 million … At the end of the day, you were sitting on the Wyoming Biodiversity Agreement.”
He also wonders about the reason for the absence of a “white basic structure” simply, with a current infrastructure from Stablecoin instead of building from the zero point, noting that negotiations on a share of the cabinet bill or interest payments can benefit the theoretical Wyoming without incurring significant development costs .
Hoskinson, who lives in Whitland and Wyoming, postpones his criticism as a defense of the local population. He argues that public funds are at risk in a project that may fail to achieve a meaningful benefit for taxpayers in the state. In his opinion, if PRD was publicly available-especially the freezing requirements and the leader-Cardano, among other platforms, has made a more compatible offer with the alleged targets of the state.
“They do not deserve it,” says about Wyoming’s workforce. “This is not the way in which purchases work … and not how anyone should work.” He calls on officials, including legislators in the states, to check the project more strictly, while emphasizing the need for a strong debate about whether Stablecoin, as is the case at the present time, corresponds to the image of Wyoming supporter or creates a central digital currency below The supervision of the Federal Supervision.
At the time of the press, Cardano was traded at $ 0.75.
Distinctive image from YouTube, Chart from TradingView.com