Charles Hoskinson hopes to be part of the crypto law-setting circle as the next four years could be pivotal for the crypto industry in the US.
Cardano founder Charles Hoskinson discussed the future of cryptocurrency in the United States with Donald Trump’s election victory against Kamala Harris in a video posted to X. The Republican president will occupy the presidency backed by a Senate dominated by his party members, giving him the chance to put into effect regulations favoring the crypto industry. Trump, after all, has promised to be the crypto president and make the US the crypto capital.
He stated that he would create a crypto policy office at his firm, Input Output Global. “I’m going to be spending quite a bit of time working with lawmakers in Washington DC and quite a bit of time members of the administration to help foster and facilitate with other key leaders in industry the crypto policy,” Hoskinson mentioned in the November 9 video.
He also spoke about the importance of getting the Republican party to set the right framework, as the next four years will be the right time to get the government going behind the industry. Hoskinson believes that the party will control not just the presidency and the Senate but also the Congress and the House.
The Cardano founder wants to push policies in favor of crypto immediately due to the past few years being so bad for it from a regulatory perspective. Many in the industry have complained about the US losing out on the opportunity to be a crypto hub while other jurisdictions create favorable laws to build thriving digital asset ecosystems.
America Has Failed to Develop a Thriving Crypto Ecosystem Due to Enforcement
Many crypto firms have faced unneeded consequences due to regulators like the US Securities and Exchange Commission (SEC) enforcing action on them instead of formulating laws that clarify how to operate. Brad Garlinghouse, Ripple co-founder, and his company were embroiled in a years-long legal battle with the SEC. He has been one of the most vocal people in calling out the crypto scene in the country.
Trump has promised to fire current SEC chair Gary Gensler, who has spearheaded the enforcement caption against crypto firms. Various mainstream publications have issued reports on who Trump’s transition team may be considering for the role, with multiple pro-crypto options on the list.
Hoskinson, in the video, had his own take, looking beyond the SEC. He talked about how the American people must be at the forefront of creating the crypto policies and not TradFi behemoths like BlackRock. He mentioned that he would want to be a part of the circle that directly works in creating the crypto laws and that he has friends in Trump’s administration who operate at the law-making level.
