Cardano’s Charles Hoskinson Heads to Japan Amid White House Crypto Roundtable
Renowned Cardano founder Charles Hoskinson has clarified that he was not extended an invitation to the upcoming White House crypto roundtable, which is scheduled for March 7. While key figures in the cryptocurrency industry and policymakers gear up for this high-profile event in Washington, DC, Hoskinson is charting a different course—he is on his way to Japan. During his visit, he plans to meet with the Cardano community and engage with regulatory officials, continuing his commitment to advancing the blockchain network globally.
Cardano’s Strategic Focus on Japan
Hoskinson, in a recent livestream titled “Japan,” addressed the anticipated White House summit, expressing skepticism about its potential impact on long-term crypto policies. He noted, “Despite all the rumors circulating on X, we haven’t received an invitation—neither on Monday, Tuesday, nor today.” He emphasized that while such meetings capture headlines, the real groundwork for crypto regulation is laid in Congress and through various administrative agencies. “The President signs the laws, but it’s Congress that writes them,” he remarked, stressing the importance of legislative developments, including efforts to pass bills related to stablecoins and market structure.
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Complexities of Crypto Regulation
Hoskinson also highlighted the intricate nature of crafting effective crypto regulations. Establishing legal definitions for digital assets demands extensive collaboration beyond a single White House meeting. He pointed out the role of multiple U.S. agencies—such as the SEC, CFTC, and the Treasury Department—in this process, emphasizing their responsibility to develop comprehensive legal and technical frameworks for federal crypto policies.
Moreover, the challenge of defining “American cryptocurrencies” in light of proposed tax exemptions remains unresolved. Hoskinson questioned how regulators would classify assets like Bitcoin and Ethereum, given their international roots. “Is Ethereum an American crypto? Founded in Switzerland, its ICO also occurred there, and its creator is Canadian,” he observed. “And Bitcoin’s founder remains a mystery.”
Global Collaboration and Regulatory Approaches
Beyond U.S. borders, Hoskinson underscored the necessity for global regulatory cooperation. He pointed to nations such as Switzerland, the UAE, the UK, and Japan, which have been navigating cryptocurrency regulation for years. He urged U.S. policymakers to consider these established frameworks. “Cryptocurrency is a global industry, not merely an American one,” he asserted, questioning the absence of international regulatory bodies, like the FCA in the UK and Japan’s JFSA, from the discourse.
Cardano’s Global Vision
Hoskinson’s visit to Japan aligns with his vision of Cardano as a globally inclusive blockchain network. Since its inception in 2015, Japan has been a pivotal market for Cardano, enjoying robust community backing and active regulatory engagement. “Cardano is designed for the world,” he stated. “Our presence in Africa, Argentina, and now Japan underscores our global mission.”
He criticized the crypto industry’s fixation on optics rather than genuine policy advancements. Hoskinson cautioned against viewing regulatory engagement as a “popularity contest,” dismissing the notion that a White House invitation could secure a project’s success. “If you believe your cryptocurrency will thrive because of attendance at a ceremonial event, you’re sorely mistaken,” he warned. “It shows a lack of understanding of how the U.S. government operates.”
Political Volatility in Crypto Regulation
Hoskinson also referenced the volatile nature of crypto regulation, citing past U.S. government actions against prominent entities like Coinbase, Kraken, and Ripple. He remarked, “Not long ago, the U.S. government aggressively targeted Coinbase, Kraken, and XRP. Now, suddenly, ADA is rumored to be part of a national reserve? That’s a drastic shift.”
Future Prospects for Cardano
While U.S. lawmakers deliberate on crypto regulation, Hoskinson remains dedicated to advancing Cardano’s development and adoption strategies. Key priorities include enhancing Bitcoin DeFi capabilities on Cardano, rolling out new governance mechanisms via Leios, progressing the Midnight privacy chain project, and engaging with international regulators across Europe, the Middle East, and South America.
He reaffirmed his commitment to long-term policy engagement, emphasizing that Cardano’s policy team will continue to collaborate with lawmakers. However, he acknowledged that achieving regulatory clarity will take years, necessitating bipartisan cooperation and sustained industry involvement. “Crypto legislation must be crafted to endure, akin to the Securities Exchange Act of 1933, which remains pertinent today,” he concluded.
At the time of writing, ADA is trading at $0.94.
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