tl;dr
Cardano Founder Charles Hoskinson plans to collaborate with the U.S. government, under Donald Trump, to shape crypto legislation and create clear regulatory frameworks for the cryptocurrency industry. He aims to work with lawmakers from both parties to pass a bipartisan bill and establish a policy d...
Cardano Founder Charles Hoskinson plans to collaborate with the U.S. government to shape crypto legislation, aiming for clear regulatory frameworks.
- Hoskinson's company, Input Output Global (IOG), will establish a separate policy division for crypto regulations and work with lawmakers for bipartisan bill passage.
- IOG will hire for its new policy office by early 2025, interacting with the legislative branch and promoting moderate regulation.
- Hoskinson advocates for transparent crypto policy written by the American people and industry, emphasizing the need for regulatory certainty for all cryptocurrencies.
- Hoskinson aims to facilitate constructive dialogues on crypto policy, leveraging personal connections within the political sphere.
- Cardano (ADA) price hits a 7-month high following the announcements, aligning with predictions of a potential rally to $1 if bullish moves continue.
Cardano Founder Charles Hoskinson plans to collaborate with the U.S. government, under Donald Trump, to shape crypto legislation and create clear regulatory frameworks for the cryptocurrency industry. He aims to work with lawmakers from both parties to pass a bipartisan bill and establish a policy division for crypto regulations within his company, Input Output Global (IOG). Hoskinson emphasizes the importance of regulatory certainty for the entire crypto industry and notes his personal connections within the political sphere, expressing optimism about future collaborations. The announcement has coincided with a 20% bullish jump in Cardano (ADA) price, reaching a 7-month high at $0.5216.
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 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.
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.
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.
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