Charles Hoskinson, the founder of Cardano, revealed new details about his possible involvement in shaping the crypto policy of the United States during the ongoing transition under President-elect Donald Trump. In a live stream Sunday night on YouTube, Hoskinson outlined his vision and possible contributions to future crypto regulations.
Will Cardano’s Founder Work Under Trump?
Cardano’s founder emphasized the “very clear” potential of his involvement in influencing US crypto policy, while urging moderation in expectations. “Things are very serious and many negotiations are taking place and it is very clear that I will be part of the policy of influencing the power of the United States,” he said.
Hoskinson added: “It’s impossible to say for sure that for example one person will be elected as a crypto Zar compared to a large Committee of people in the industry and people in the Executive Branch will come together and find something. Addressing the rampant speculation, Hoskinson clarified, “It’s a misnomer to say that Charles Hoskinson leads US crypto policy,” intending to set realistic boundaries around his role.
Delving deeply into legislative efforts, Hoskinson provided an update on important initiatives such as the Financial Innovation and Technology for the 21st Century Act (FIT 21) and the Financial Innovation (FIA) actions, emphasizing the bipartisan nature of these efforts and their importance in setting the agenda. regulatory framework. “There have already been two major efforts, one of which was very successful, FIT 21, which passed the house with the support of two groups. 61 Democrats voted for it,” it highlighted.
Discussing the FIA, Hoskinson mentioned ongoing discussions with key figures in the Senate, including Senator Scott and Senator Blackburn, who expressed hope for possible progress between the two parties. “We’ve already started reaching out to people who are directly connected to different people who are starting to put these pieces together,” explained Hoskinson.
In response to the reform group’s divided approach, Hoskinson announced the creation of a dedicated policy office aimed at coordinating crypto regulatory efforts. “We are establishing a policy office. It will connect all these dots,” he said.
This plan aims to address critical issues such as asset allocation, stablecoins, reserve levels, taxation, and the ability of governments to purchase and hold Bitcoin reserves. Hoskinson elaborated on the goals of this office, saying, “the sole purpose of that organization will be to try to put together enough for the law to work its way.”
Hoskinson also discussed the challenges and ethical considerations involved in advising on crypto policy under the incoming Trump administration. “It is not yet clear how the councils will work, how many there will be, and what controls will be put in place for conflicts of interest, ethics, and other such things,” he said.
A key focus of Hoskinson’s address was the need for a two-pronged approach to control. “We cannot allow cryptocurrencies in the United States to be a partial problem. It needs to be a bipartisan issue,” Hoskinson emphasized.
Reflecting on the broader implications of these regulations, Hoskinson remained optimistic about achieving significant legislative progress: “We will have a fully staffed policy office within the next two to three months. We have started reaching out to people who are directly connected to different people who are starting to put these pieces together.”
At press time, Cardano traded at $0.5717.
The featured image was created with DALL.E, a chart from TradingView.com
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