Cardano Founder Charles Hoskinson Announces Plans to Support U.S. Government in Shaping Crypto Regulations
Charles Hoskinson, the founder of Cardano, has confirmed his intention to work with the U.S. government, potentially under Donald Trump, to help establish clear regulatory frameworks for the cryptocurrency industry. His goal is to provide long-needed regulatory clarity for digital assets, which have faced years of legal ambiguity and challenges from U.S. agencies.
Hoskinson revealed these plans in recent comments, stating that creating effective crypto policies will require bipartisan support from both Democrats and Republicans. This announcement comes as the Cardano network, along with other major blockchains like Bitcoin and Ethereum, continues to grapple with regulatory challenges.
To advance these efforts, Hoskinson’s company, Input Output Global (IOG), will establish a dedicated policy division focused on developing legislative frameworks aligned with the Financial Innovation and Technology for the 21st Century Act (FIT21) and the Responsible Financial Innovation Act (RFIA). Hoskinson underscored the importance of bipartisan collaboration, noting that the recent FIT21 bill gained significant support in the House, indicating a shift toward cross-party backing for crypto regulation.
“The current political climate, with a potential Republican-controlled Senate, House, and presidency, presents a historic opportunity to establish much-needed clarity for the crypto sector,” Hoskinson remarked, emphasizing that his goal is not to seek subsidies or bailouts but to promote transparent rules that facilitate industry innovation.
To support this vision, IOG plans to recruit for its new policy division by early 2025. This office will work closely with key legislative figures to advocate for balanced regulation, addressing critical areas like the definitions of securities and commodities within the crypto space.
Hoskinson reiterated his belief that effective regulation would unlock massive value, potentially creating “trillions of dollars in value and millions of jobs” for the U.S. economy. He emphasized the importance of regulatory clarity not only for Cardano but also for the broader ecosystem, including projects like XRP, Solana, and Ethereum.
As part of his strategy, Hoskinson acknowledged Bitcoin’s foundational role in the crypto world but expressed frustration with its slower pace of innovation. He recognized, however, that projects like Bitcoin OS have added valuable use cases, enhancing Bitcoin’s relevance in a rapidly evolving digital finance landscape.
Featured image from: coinedition.com