Charles Hoskinson Proposes Swiss Foundation Relocation After Community Backlash

Charles Hoskinson, the founder of Cardano, has called for the Cardano Foundation (CF) to relocate from Switzerland to a jurisdiction that allows its users to elect board members, after the Layer 1’s community raised concerns over transparency and governance practices. In a Dec.17 post on X, Hoskinson expressed concerns over the Foundation's current governance structure, which operates under Swiss law as a not-for-profit and does not allow for community-based board elections, according to Cardano’s website . “Here's a question before they will lie about how the current board got appointed,” Hoskinson’s X post reads. “If Switzerland doesn't allow you to democratically elect the board members, then why can't you move the Foundation to a new jurisdiction that will? The assets can be granted to another body.” To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io