Charles Hoskinson Acts on US Crypto Policies
Charles Hoskinson, founder of Cardano and Input Output, just announced a new policy office for his company designed to influence US cryptocurrency regulation. In a video posted to X, Hoskinson said the “current political environment is literally perfect” to reform crypto policy and that he’s committed to working with lawmakers in Washington, D.C. to push through a clearer regulatory framework-one that would help the industry grow.
One of the most recognizable faces in cryptocurrency, Hoskinson thinks the industry needs leaders to start pressing policymakers directly on some fundamental regulatory issues. Meanwhile, industry leaders have ramped up calls for the U.S. to adopt policies that will keep the country competitive as a global blockchain and crypto technology hub.
“The Best Opportunity” for Crypto Regulation Reform
He argued that the just-concluded election, in which Donald Trump came back into office with a promise to pay more attention to crypto policies, set up a very promising backdrop for regulatory reform. With a Senate, House, and Presidency of Republicans, the regulatory overhaul may be going in the direction of cryptos, and lawmakers are more open to discussing crypto-friendly policies.
He called it “the best opportunity” for the crypto industry to make a case for regulatory clarity, saying this political environment is one in which industry participants should try to bring in favorable changes.
Growing Concerns Over US Lagging Behind in Crypto
Unclear regulations have stifled the growth of the U.S. crypto industry for years, many at the expense of innovation. Ripple CEO Brad Garlinghouse has been among a number of industry leaders who have publicly criticized the various U.S. approaches to regulation; particularly adversarial cases filed by the SEC against industry firms. Hoskinson added, “Crypto regulation has to be decided by American interests, not a foreign entity, and definitely not corporate entities that have competing interests in play.
A Vision for Bipartisan Policy Solutions
Hoskinson, therefore, wants to see the crypto regulation breakthrough with a bipartisan solution, particularly on “clear definitions of what is a security versus a commodity”. For him, it’s a very important bipartisan approach in order to reach a correct framework that really protects innovation and gives clarity on how crypto companies can confidently operate within the U.S. borders. He would like to create a place where U.S.-based crypto ventures can freely innovate and grow without living in fear of regulatory uncertainty. That way, the country can regain lost competitive advantage in the crypto space.
