Cardano Founder Charles Hoskinson has confirmed plans to collaborate with the U.S. government under Donald Trump to help shape crypto legislation. The goal is to create clear regulatory frameworks for the cryptocurrency industry, which has faced years of uncertainty and regulatory challenges.
Charles Hoskinson unveiled these plans in his recent remarks and said that the development of positive policies concerning cryptocurrency requires the support of both Democrats and Republicans. This development comes as Cardano, and other major blockchain networks including Bitcoin, are still grappling with legal challenges from U.S agencies.
Cardano Founder Charles Hoskinson Crypto Advisor Role
Cardano Founder Charles Hoskinson said that his company, Input Output Global (IOG), will create a separate policy division for crypto regulations. The office will focus on developing a legislative framework that incorporates provisions of the Financial Innovation and Technology for the 21st Century Act (FIT21) and the Responsible Financial Innovation Act (RFIA).
“I will work with lawmakers and the administration to get a bipartisan bill passed,” he said.
The Cardano founder highlighted the importance of cooperation across party lines, pointing out that the recent FIT21 bill passed in the House with over 60 Democrat votes, indicating growing support for bipartisan crypto legislation.
Charles Hoskinson’s statement also acknowledged the potential influence of a Republican-controlled Senate, House, and presidency in the coming years. He stated that the current political climate may indeed offer the industry a chance to find the legal status it so desperately needs. He remarked,
“This is the best opportunity we have ever had in the history of the industry to get clarity.”
Establishing a Policy Office for Crypto Regulation
In his strategy, Charles Hoskinson said that IOG will hire for its new policy office by early 2025. This office will also be tasked with interacting with the legislative branch and the management of industries, and promoting moderate regulation. Hoskinson explained that his team will start to approach the “key leaders in certain positions” in order to ‘push forward legislative agenda that defines securities and commodities concerning the crypto space’.
He also said that the industry does not want favors but rules that can make it easy for the industry to come up with new products without violating the law. “No one in this industry has asked for a subsidy or a bailout,” he said. Amid these political shifts, the US SEC chair Gary Gensler has been cautioned to step down as the crypto community awaits Donald Trump promise of firing him on day one of after swearing in.
The Cardano founder said that he believed they would be able to “create trillions of dollars of value and millions of jobs for the American people” with these efforts.
Cardano Founder Stance On Transparent Framework
This is not the first time Hoskinson is advocating for change in crypto policies and he isn’t only doing it for Cardano. He pointed out that the regulatory certainty is important not only for Cardano but for other cryptocurrencies too such as XRP, Bitcoin, Ethereum, and Solana.
Charles Hoskinson has noted that these ecosystems have not had clear guidelines hence they have been slow to grow and the Securities and Exchange Commission (SEC) has provided uneven oversight. ”The crypto policy should be written by the American people and the American crypto industry,” he said, noting that current policy has made it difficult to innovate.
Concurrently, the Cardano founder appreciated Bitcoin as the first cryptocurrency and recognized the strong community and compliance with the initial principles of the project. But he expressed dissatisfaction with the rate at which innovation is happening within the Bitcoin ecosystem, even as he acknowledged that innovations like Bitcoin OS have added new use cases to Bitcoin.
Cardano (ADA) Price Hits 7 Month High
Hoskinson also revealed that he has personal connections within the political sphere, which he hopes will facilitate constructive dialogues on crypto policy. He mentioned friendships with individuals in the Trump administration and expressed optimism about future collaborations.
However, he acknowledged that such relationships depend on political shifts, stating that discussions are still in early stages as the new administration’s transition team forms.
Post these announcements, Cardano (ADA) price has seen a 20% bullish jump as of press time exchanging hands at $0.5216 hitting a 7 month high. This move aligns with ADA’s price prediction of a potential rally to $1 should these bullish moves continue arising.
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Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
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