Charles Hoskinson, creator and CEO of Cardano blockchain cryptocurrency and of Input Output Global (IOG), recently issued public grievances regarding Wyoming stablecoin venture. These included procedural missteps as well as what he considered sidelining of Cardano blockchain cryptocurrency.
Hoskinson Shares His Perspective
Hoskinson described his excitement when Wyoming’s crypto law was passed nearly two years ago, setting the foundation for it to launch an asset-backed stablecoin. Soon after the bill’s passage, IOG was approached by various stakeholders seeking consultancy on how best to implement their project; these discussions, which lasted a full year and a half, covered topics such as issuance, redemption, compliance standards, technological standards, competitive strategies and much more.
Concerns were raised by the selection of an executive director who seemed to favor Ethereum’s ecosystem over that of multi-chain stablecoin. Hoskinson decried the selection process as nontransparent and exclusionary; consequently leading to Cardano being unfairly disqualified because of unfounded capability claims.
Hoskinson raised legal and constitutional questions over these actions, charging that they unfairly benefit certain ecosystems and could potentially damage Wyoming’s standing as an attractive jurisdiction for crypto trading. He highlighted how these random decisions might hinder Wyoming’s efforts as an industry hub.
Hoskinson expressed optimism about exploring all possible legal means, including negotiations, to ensure fair treatment for Wyoming entities. IOG continues its dedication to the rule of law and equitable treatment of all entities involved.
Hoskinson expressed his frustrations and was hopeful for a resolution, asserting his intent to seek justice and uphold Wyoming’s potential in the blockchain space. At the time of his remarks, ADA was trading at $1.04.
