Cardano Founder Advocates for Crypto-Centric Voting
Charles Hoskinson, an inventor of the Cardano blockchain, has recently spoken out against a policy paper circulating among Democratic Committee members, revealing their perspective on cryptocurrency legislation.
Hoskinson, a significant figure in the blockchain industry, has criticized the policy paper’s stance and is advocating for voters to prioritize blockchain technology in the upcoming elections.
Over the past weekend, Hoskinson expressed his views via Twitter, stating that bringing crypto regulation to the forefront of election discussions is the only way to curb the “madness” of current governmental control. He called on crypto enthusiasts to support politicians endorsing pro-crypto policies.
Democrats’ Crypto Stance Alarms Hoskinson
The reason for Hoskinson’s rallying cry is his belief that the government intends to tighten its grip on the crypto sector, as suggested by the Democratic Committee’s letter. Fox News reporter Eleanor Terrett received the letter, which laid out the Democrats’ viewpoint on crypto legislation, complete with numerous “key messages” for the committee’s members.
According to the letter, Democratic Committee members are encouraged to support the Securities and Exchange Commission’s (SEC) assertion of sole jurisdiction over crypto regulation. The paper concludes that non-compliance is a bigger issue than uncertainty in the crypto space and that most cryptocurrencies should be deemed securities.
The document also took aim at Republican lawmakers in the committee who have advocated for less funding for banking regulators. It suggested that these Republicans were not genuinely committed to protecting investors’ interests and that they should focus on passing a clean debt limit deal instead of supporting pro-crypto legislation.
Industry Reacts to Democrats’ Stance on Crypto
The policy paper’s contents have stirred reactions from over 900,000 people, causing a ripple of interest across the crypto landscape. Concerns have been raised by industry executives and professionals who share Hoskinson’s view on the potential direction of regulation.
Hoskinson’s call for Americans to become single-issue voters on cryptocurrencies comes at a time when the debate over crypto regulation is intensifying. By making this issue a top priority, citizens can influence the future direction of the industry and ensure its survival, voting in favor of politicians who uphold pro-crypto policies.