Charles Hoskinson, creator of Cardano cryptocurrency wallet platform, shared his views on how he may help guide cryptocurrency regulations in the US during President-elect Donald Trump’s transition period. Via YouTube livestream, Hoskinson discussed his vision and potential influence over forthcoming crypto legislation.
Could the Cardano Creator Influence Trump’s Crypto Strategy?
Hoskinson acknowledged his potential role in shaping US crypto policy and called on members of the public to maintain realistic expectations about his involvement. It’s still unknown whether an individual like himself will emerge as the primary figure behind crypto policy or whether a wider committee would form to address issues collaboratively; Hoskinson made sure to dispel any speculations that he was leading this initiative, hoping to manage public expectations regarding his involvement and debunk any reports that may arise about such allegations.
He further provided updates on key legislative initiatives, citing bipartisan support for acts like Financial Innovation and Technology for the 21st Century (FIT 21) Act as well as their importance for creating a regulatory framework for cryptocurrency. He mentioned ongoing talks with influential Senate members which gave him hope of future bipartisan agreements regarding crypto regulations.
Hoskinson recently unveiled plans to streamline legislative endeavors by creating a policy office. This office seeks to consolidate disparate efforts into one streamlined strategy that would facilitate effective laws regarding asset classification, stablecoins, custody standards and taxation among other areas. Essentially, its primary aim is creating legislation which can easily navigate through the lawmaking process.
Hoskinson addressed the difficulties and ethical quandaries associated with advising the incoming administration on crypto policy issues. He stressed the necessity of taking an impartial, bipartisan approach so as to avoid politicization of crypto regulation within the US, while remaining hopeful for significant legislative advancement and disclosing that efforts to staff up a policy office had begun with plans to have it fully functional within several months.
As part of their discussion, Cardano’s current market value was mentioned, underlining their continued interest.
