Following Donald Trump’s victory in the US elections, rumors have been swirling that Charles Hoskinson, the founder of Cardano, might be appointed to a significant government position. This role would involve overseeing the development of digital currency policies. Hoskinson himself has confirmed his potential involvement as a presidential advisor on cryptocurrency legislation.
Engagement with the Trump Administration
Charles Hoskinson has expressed his interest in collaborating with the administration of the newly elected President Trump. His goal is to leverage his expertise to assist in the creation of comprehensive crypto legislation. Hoskinson is determined to advocate for clearer regulatory frameworks that cater to the unique needs of the cryptocurrency sector. This comes in light of the industry’s ongoing challenges and uncertainties posed by existing regulatory measures.
Hoskinson highlighted the urgency in formulating positive cryptocurrency policies. He emphasized the necessity of bipartisan support from both Democratic and Republican lawmakers, especially as major cryptocurrencies face legal hurdles from state authorities.
Why Charles Hoskinson Could Be Chosen as a Crypto Policy Advisor
- Experience & Knowledge: With a background as a co-founder of Ethereum and the founder of Cardano, Hoskinson brings valuable insights and expertise to the table.
- Industry Representation: He has already represented the cryptocurrency industry in front of Congress, showcasing his capability to advocate for the sector’s interests.
Establishing a Crypto Policy Division
In a recent statement, Hoskinson disclosed his intentions to develop a policy division dedicated to crypto regulations through his company, Input Output Global (IOG). This division will focus on crafting a legislative framework that aligns with existing US financial laws, including the Financial Innovation and Technology for the 21st Century Act (FIT21) and the Responsible Financial Innovation Act (RFIA).
Hoskinson is committed to working alongside legislators and Trump administration officials to pass a bipartisan crypto bill. He stressed the importance of cooperation across the US federal government to achieve this goal.
Optimism for the Industry’s Future
Hoskinson is optimistic about the current political landscape, suggesting it could provide the cryptocurrency industry with a chance to attain legal clarity. He believes the odds are favorable for the sector to gain legal recognition.
“This is the best opportunity we have ever had in the history of the industry to get clarity,” Hoskinson noted.
He emphasized that the crypto industry is not seeking special treatment. Instead, it desires regulations that allow for the development of innovative products without breaching legal boundaries.
“The crypto policy should be written by the American people and the American crypto industry,” he added.
Cardano’s Price Surge
The speculation surrounding Charles Hoskinson’s potential appointment as a Trump advisor has contributed to Cardano’s recent price surge. The digital currency has experienced significant momentum, with its value soaring by 32% in the past 24 hours. Analyzing Cardano’s price movement over the past week reveals a remarkable 70% growth.
With this surge, Cardano has reclaimed its position as the ninth-largest cryptocurrency and, when excluding stablecoins, the seventh-largest in the market. Analysts have noted that the current price movement mirrors previous market cycles, such as Bitcoin’s halving events.
At the time of writing, Cardano (ADA) is trading at $0.5804, with a total market capitalization exceeding $20 billion.
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