In a recent livestream, Cardano (ADA) founder Charles Hoskinson revealed his blueprint for impacting U.S. crypto policy during Trump’s transition. Hoskinson is gearing up to leave his mark on legislation, targeting a key position in Trump’s administration—a move that’s ruffling feathers across the crypto community.
The whole crypto ecosystem needs to come together like the Marvel heroes in the final battle of Endgame to stop Charles Hoskinson from getting anywhere near Trump
— sassal.eth/acc
(@sassal0x) November 10, 2024
There has been no official announcement from Trump. From what we’ve seen, it’s just the Cardano team opening a DC office to lobby for crypto.
Yet, with a close relationship to Robert F. Kennedy Jr., who Trump will likely tap for his admin, there is a strong chance Hoskinson could join the team.
What Could Charles Hoskinson Accomplish in DC
Hoskinson’s remarks have sparked excitement and speculation about his involvement in shaping the regulatory framework for digital assets in the United States. He highlighted the “very clear” potential for his participation, although he reminded loyal ADA supporters to temper expectations about his sway.
“Things are very milky and many discussions are happening, and it’s very clear that I’m going to be involved in some capacity influencing policy in the United States,” Hoskinson shared during his livestream.
Amid the excitement, Hoskinson was quick to point out he would be part of a broader team effort with fellow industry leaders and government players.
Charles Hoskinson envisions a powerhouse policy office to bring together the scattered crypto initiatives. Its mission: cut through red tape and tackle big-ticket issues like asset classification, stablecoin rules, custody protocols, and tax laws.
“We are establishing a policy office. It’s going to connect all these dots together,” he announced.
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Charles Hoskinson: Implications for Cardano and the Crypto Market
Hoskinson’s big reveal sent ADA soaring by over +30%, and a clear nod from the market thinks he could significantly influence working with Trump.
The Cardano project has been focusing on becoming a Bitcoin Layer 2 powerhouse, marrying Bitcoin’s strength with its own agility. This aligns seamlessly with Hoskinson’s sweeping goals to fuel crypto’s evolution and embrace.
Hoskinson emphasized the importance of maintaining a bipartisan stance on cryptocurrency regulation, advocating for collaborations that transcend political divides. Such an approach ensures that crypto technology thrives as a neutral and inclusive economic force.
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Could Charles Hoskin Be A Figure in The Future Of Crypto Regulation?
So, what’s the reason for the pushback against Charles Hoskinson?
Recent books like ‘Out of the Ether’ or testimony from Ethereum creator Vitalik Buterin have painted Hoskinson as a narcissist and someone not to be trusted. It doesn’t help that Charles has taken numerous shots against Bitcoin while Cardano has severely underperformed this year.
In case you're confused about the point:
Charles Hoskinson lies about Bitcoin for a living, and there is no bigger red flag.
P.S. @lexfridman monetizes via @coinbase ad revenue in exchange for giving his platform to scammers. pic.twitter.com/i8LrXzreWw
— Cory Klippsten
Swan.com (@coryklippsten) May 16, 2023
As discussions surrounding Hoskinson’s potential advisory role continue, questions about the structure of such positions remain. Considerations for managing conflicts of interest and establishing ethical guidelines are pivotal as the Trump admin becomes the first openly pro-crypto presidency.
Whether Charles takes center stage or remains a bystander is anyone’s guess.
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