Cardano (ADA) founder Charles Hoskinson has confirmed plans to collaborate with the U.S. government under Donald Trump to assist in developing cryptocurrency policies and laws. The project's goal is to create clear regulatory frameworks for the crypto industry, a sector that has experienced years of instability and legal challenges.

In recent statements, Hoskinson emphasized that the development of positive policies for cryptocurrency needs support from both the Democratic and Republican parties. This comes amid Cardano and other major blockchain networks, including Bitcoin, facing legal issues from U.S. government agencies.

Charles Hoskinson

Charles Hoskinson's role as a Cryptocurrency Advisor

Charles Hoskinson stated that his company Input Output Global (IOG) will establish a dedicated policy department for cryptocurrency regulation. This office will focus on developing a legislative framework based on the provisions of the Financial Innovation and Technology for the 21st Century Act (FIT21) and the Responsible Financial Innovation Act (RFIA).

"We will work with lawmakers and the administration to pass a bipartisan bill," he said.

Hoskinson also emphasized the importance of bipartisan cooperation, pointing out that the recent FIT21 bill was passed in the House with over 60 votes from the Democratic Party, demonstrating increasing support for a bipartisan cryptocurrency law.

Establishing a Policy Office for Cryptocurrency Regulation

According to his plan, Hoskinson stated that IOG intends to hire staff for the new policy office in early 2025. This office will be responsible for communicating with the legislative branch, managing industries, and promoting a reasonable regulatory oversight mechanism. Hoskinson mentioned that his team would reach out to "key leaders in critical positions" to advance legislative initiatives that clearly define factors like securities and commodities in the crypto space.

He also asserted that the industry is not seeking privileges or subsidies but only requests clear regulations that promote innovation without violating the law. "No one in this industry is asking for subsidies or bailouts," he emphasized. Meanwhile, SEC Chairman Gary Gensler, who has been holding back and opposing crypto vehemently, has now been called to resign as the community awaits Donald Trump's promise to fire him immediately after taking office.

Charles Hoskinson's perspective on the Transparency Framework

This is not the first time Hoskinson has called for changes in cryptocurrency policies, and he is not doing this solely for the benefit of Cardano. He believes regulatory certainty is a crucial factor not just for Cardano but also for other cryptocurrencies like XRP, Bitcoin, Ethereum, and Solana.

Charles Hoskinson pointed out that these ecosystems have long lacked clear guidance, causing them to develop slowly and struggle with innovation. He argued that the SEC has not provided a uniform oversight mechanism. "Cryptocurrency policy should be built by the American people and the American crypto industry," he asserted, criticizing the current policy that has hindered innovation.

While appreciating Bitcoin as the first cryptocurrency and recognizing its strong community, Hoskinson also expressed disappointment at the pace of innovation in the Bitcoin ecosystem, although he acknowledged that innovations like Bitcoin OS have expanded Bitcoin's use cases.

ADA price reaches a 7-month high

Hoskinson also revealed that he has personal connections in the political sphere, which he hopes will help foster constructive dialogues about cryptocurrency policy. He mentioned relationships with individuals in the Trump administration and expressed optimism about future collaboration opportunities.

However, he also noted that these relationships will depend on political changes, and current discussions are still in the early stages as the new transition team is being formed.

Following these announcements, the price of Cardano (ADA) saw a strong surge of 30%, reaching $0.5634, marking a 7-month high. This reflects market expectations for an even stronger price increase, with forecasts suggesting ADA could reach $1 if these positive moves continue.

ADA price chart for 3 months | Source: Coingecko

Source: https://tapchibitcoin.io/charles-hoskinson-xac-nhan-vai-tro-co-van-tien-dien-tu-cua-trump.html