Collins J. Okoth
Cardano founder Charles Hoskinson has showcased his plans to collaborate with Trump’s administration to enhance regulatory clarity on crypto. The crypto executive revealed his political plans for 2025 in an X livestream. Hoskinson had initially endorsed Robert F. Kennedy Jr., who is now part of Trump’s administration.
Ethereum Co-founder and Cardano founder Charles Hoskinson has revealed his political roles in crypto regulations in the coming year. The crypto executive revealed in a recent live stream that he will be working with lawmakers for a significant amount of time in 2025 to help foster crypto regulations and bring regulatory clarity to the industry. Charles Hoskinson explained that he will work alongside other key industry leaders to develop crypto policies in the U.S.
Charles Hoskinson speaks on his possible involvement in crypto litigations
JUST IN: Cardano Founder to work with Trump Administration on crypto policy in 2025 🇺🇸 pic.twitter.com/ONvHymIZfQ
— Altcoin Daily (@AltcoinDailyio) November 10, 2024
Hoskinson highlighted that the lack of clear regulations has made the U.S. Securities and Exchange Commission (SEC) run over the Cardano, Solana, Ethereum, and Ripple ecosystems. According to the crypto pioneer, the U.S. SEC has also affected the Bitcoin ecosystem despite unlocking institutional capital for Bitcoin early this year through exchange-traded funds (ETFs) approvals.
Hoskinson disapproved of the industry having companies such as BlackRock dictate crypto policy to the United States. Hoskinson emphasized that U.S. crypto policies should be written by the American crypto industry and well-meaning lawmakers.
Hoskinson also detailed that he is working on a new input-out policy office that will launch in January 2025. The office will work with the legislative branch and industry managers to promote moderate regulation.
Hoskinson illustrated that his team will reach out to key leaders to fast-track a legislative agenda that defines securities and commodities concerning the crypto space. He also highlighted the importance of coalition across party lines, pointing out that the recent FIT21 bill passed in the House with over 60 Democrat votes.
Hoskinson says no one in the industry is asking for special treatment
Hoskinson said in the live stream that none of the industry players has requested special treatment or favors from regulators. All the industry has been asking for is a chance to thrive and create value through businesses and employment.
The Cardano founder also noted he has connections with some members of the political class who are in office. He said he will attempt to establish dialogues with them to oversee changes in crypto policies.
In August, Charles Hoskinson publicly endorsed Robert F. Kennedy Jr., saying he was the most suitable candidate to vote for as president. He also endorsed RFK’s decision to withdraw from the presidential race and join hands with Donald Trump.
Cardano is trading at $0.58 at the time of this publication. According to data from CoinMarketCap, the crypto asset has surged by 34% in the last 24 hours and has soared by more than 70% in the last seven days. Cardano’s 24-hour trading volume currently sits close to $2 billion, while its market cap has settled at around $20.4 billion. On the other hand, Bitcoin has made a new all-time high of $79,238. The crypto asset has risen by 3.19% in the last 24 hours and 15.75% in the last seven days.
