Cardano and Midnight Founder Charles Hoskinson said proposed U.S. crypto legislation could take more than a decade to implement, fail to survive political change and structurally disadvantage new entrants while benefiting established cryptocurrencies.

The Digital Asset Market CLARITY Act is still being negotiated in Congress, with lawmakers circulating updated text and trying to close final gaps. While a compromise on stablecoin yield appears close, other sticking points, including decentralized finance and Democratic political demands, remain unresolved, leaving the bill short of a full Senate vote for now.

“Even if it does get passed, it’s going to take many years of rulemaking,” he told CoinDesk, warning the process could stretch…