Emily Walker
Charles Hoskinson, the creator of Cardano, has shared fresh perspectives on his potential role in shaping the cryptocurrency regulations in the United States during the transition under President-elect Donald Trump. In a YouTube livestream this past Sunday, he discussed his vision and possible contributions to upcoming crypto laws.
Will Hoskinson Play a Role in the Trump Administration?
Hoskinson pointed out the “clear” chance of his involvement in US crypto policy, while advising caution in expectations. He remarked, “While many discussions are ongoing, it’s evident I’ll have a role in influencing policy in some way.”
He added, “It’s unrealistic to assert that one individual will be appointed as the sole leader in crypto policy; rather, a larger group from the industry and administration will collaborate to find solutions.” To clarify rampant rumors, he stated, “It is misleading to claim that I am at the forefront of US crypto policy,” aiming to set realistic expectations for his possible influence.
Expanding on legislative initiatives, Hoskinson provided insights on key efforts like the Financial Innovation and Technology for the 21st Century Act (FIT 21) and the Financial Innovation Act (FIA), noting their bipartisan support as crucial for establishing regulatory guidelines. “FIT 21 has seen significant success, passing the house with broad bipartisan backing, including 61 Democratic votes,” he explained.
On the FIA, he mentioned positive dialogues with influential senators like Scott and Blackburn, expressing hope for further bipartisan progress. “We’ve started connecting with individuals involved in putting together necessary frameworks,” he stated.
In light of the scattered efforts during the transition, Hoskinson announced the creation of a specific policy office designed to consolidate crypto legislative activities. “This policy office will help connect all the necessary pieces,” he confirmed.
This new office aims to tackle key areas such as asset classification, stablecoin regulations, custody protocols, taxation, and the government’s potential purchase and custody of Bitcoin. Hoskinson outlined the office’s goal, saying, “Its primary aim will be to facilitate the passage of an effective law.”
He also addressed the ethical dilemmas and complexities involved in advising on crypto policy in the upcoming Trump administration. “The structure of advisorships, their numbers, and the measures to prevent conflicts of interest remain uncertain,” he mentioned.
A key takeaway from Hoskinson’s speech was the necessity for a bipartisan approach to regulation. “We must prevent cryptocurrencies in the US from becoming a political issue; they should be addressed with bipartisan support,” he insisted.
Looking ahead, Hoskinson expressed optimism for significant legislative advancements: “In the next 2 to 3 months, we will have a well-staffed policy office. We’ve initiated outreach to those connected to the necessary efforts.”
As of the latest update, Cardano’s value stood at $0.5717.
