Cardano founder Charles Hoskinson warns that the proposed U.S. "Digital Asset Market Transparency Act" could classify mainstream tokens like XRP, Cardano, and Ethereum as securities right from the outset. The bill has been passed in the House, requiring project teams to demonstrate sufficient decentralization to regulators in later stages before transitioning to commodities. Hoskinson believes this framework grants regulators too much power to delay reclassification, which could stifle innovation under the long-term securities law framework.