Charles Hoskinson emphasized the need for clear U.S. crypto regulations to drive industry growth under the new administration. He hinted at potential collaboration among Cardano, Multiverse, Algorand, and Hedera to influence policy and innovation.
Charles Hoskinson, the co-founder of Cardano, has emphasized the potential for the crypto industry to undergo a transformation under the new US administration in a comprehensive interview.
He believes that the industry must be regulated appropriately by the authorities in order to establish the necessary clarity for growth.
Cryptocurrency Industry Uniting to Advance Innovation.
Cardano, Multiverse, Algorand, and Hedera have the potential to collaborate in order to influence U.S. policy in order to encourage innovation. The complete interview with Charles Hoskinson is available for viewing at the link provided.
ADA governance, Midnight Airdrop, and U.S. crypto policy. https://twitter.com/UwewAMUnyD— large pey (@bigpeyYT) December 8, 2024
Hoskinson also disclosed that the industry was moving in the incorrect direction under the previous administration, as evidenced by the “brutal” crackdowns and aggressive enforcement actions. In order to rectify the situation, he suggested three immediate actions:
Initially, he anticipates that the US Securities and Exchange Commission (SEC) will withdraw the litigation filed against crypto companies, such as Coinbase and Kraken, that were filed unfairly under the new leadership.
Secondly, he recommended that the government develop a strategy that is founded on the role of crypto in the country.
This could be accomplished through direct collaboration between the branches of government, according to him. In an effort to elucidate this matter, Hoskinson disclosed that a policy office would be established to maintain an aggressive discourse regarding the industry.
Regulations Governing Cryptocurrency in the United States
Hoskinson also disclosed that he has engaged in a comprehensive conversation with the leaders of Hedera Hashgraph, Algorand, and Multiverse, among other crypto key participants.
Moreover, he suggested that he would engage in a conversation with individuals who were engaged in the drafting of the crypto laws to address the industry’s progress over the past three years and to determine what modifications are necessary.
This would be restricted by asset classifications, which refer to the security or commodity status of cryptocurrencies.
Thirdly, the co-founder of Cardano proposed the implementation of an international harmonization strategy to elevate the United States to the same level as Europe, the Middle East, and Asia, which have already emerged as leaders.
This interview is in response to the significant anticipation that the United States will become the global hub for cryptocurrency, establish strategic reserves for Bitcoin, and foster an environment that is conducive to the industry’s growth.
Hoskinson reiterated a comparable sentiment in the days following the US election:
I’m going to be spending quite a bit of time working with lawmakers in Washington DC and quite a bit of time with members of the administration to help foster and facilitate with other key leaders in industry the crypto policy.
