Highlights

  • Charles Hoskinson, founder of Cardano, is set to advise on crypto policies under Trump’s administration.

  • A new Input Output Global division will work on bipartisan crypto laws.

  • ADA rallies 25%, reaching a 7-month high.

Charles Hoskinson has confirmed his new advisory role in shaping U.S. crypto regulations under a potential Trump administration. Hoskinson’s goal is simple: to push for consistent, bipartisan crypto legislation that can offer much-needed regulatory clarity to the industry. Following this announcement, Cardano’s ADA token surged 20%, signaling a strong market optimism.

https://t.co/yJZbJHKOp5

— Charles Hoskinson (@IOHK_Charles) November 10, 2024

With over a decade experience in blockchain technology, Charles Hoskinson has long advocated for fair and transparent policies. Now, with his sights on U.S. regulatory reform, he aims to bridge gaps between lawmakers and the crypto community. His plans primarily center on creating a framework that will both boost innovation and define crypto’s legal standing in the U.S.

A New Division for Crypto Legislation

Hoskinson’s company, Input Output Global (IOG), plans to establish a dedicated division with focus on crypto policy. The policy office is set to open by 2025, and will serve as a bridge between the crypto sector and Washington lawmakers. Hoskinson believes bipartisan support is essential for meaningful progress. He referenced recent developments like the Financial Innovation and Technology for the 21st Century Act (FIT21). A bill which gained support from both Democrats and Republicans.

Hoskinson’s approach emphasizes moderation over favoritism. He wants regulations that allow companies to develop new crypto products without risking legal violations. “No one in this industry has asked for a subsidy or a bailout,” he said, explaining that fair and well-defined rules are all that crypto businesses need to operate effectively. The policy team will also focus on clarifying what makes up a security or commodity in crypto, crucial for reducing the SEC’s widespread scrutiny.

Political Shifts and Opportunities for Crypto

As the U.S. gears up for the new Trump’s administration, Hoskinson sees a potential shift in crypto policy. He believes that a Republican-controlled Congress along with Trump’s promises for crypto-friendly policies, could make this the most opportune moment for regulatory clarity. Trump has signaled support for crypto’s growth, and his campaign even includes a “crypto checklist.” A list which includes the removal of the SEC Chair Gary Gensler, who has been critical of digital assets.

This change could help position the U.S. as a global leader in crypto, a role it has risked losing to countries like Japan and Switzerland, where regulations are already in place. Hoskinson noted that cooperation between the government and industry leaders could unlock “trillions of dollars of value and millions of jobs” in the U.S. economy.

His relationships within the Trump administration may quicken this dialogue. Hoskinson has close ties with individuals in Trump’s political circle, which he believes could support productive discussions on crypto policy.

ADA Price Surge and Market Momentum

Following the news, Card5no’s ADA token skyrocketed by 25%, hitting a seven-month high of $0.5216. Market analysts expect further gains for ADA as Hoskinson’s policy plans gain momentum. ADA’s potential rally to $1 has become a topic of interest, with many investors betting on Cardano’s progress in both regulatory and technological spaces.

Hoskinson’s long-standing advocacy for crypto’s growth goes beyond Cardano. He has previously called for a transparent policy that could benefit not just ADA but also other major assets like Bitcoin, Ethereum, and XRP. A consistent and transparent policy, he believes, would encourage innovation and support the growth of new crypto products without legal setbacks. “The crypto policy should be written by the American people and the American crypto industry,” Charles Hoskinson said, emphasizing that industry experts should play a leading role in defining crypto’s future.

The coming months will reveal how successful Hoskinson’s legislative push will be. His commitment to regulatory clarity reflects the wider crypto community’s calls for a regulatory overhaul, and his influence may help bring long-awaited changes to the U.S. crypto landscape.

The post Cardano’s Charles Hoskinson to Shape U.S. Crypto Policies with Trump’s Administration – ADA Soars on Bold Vision appeared first on Coinfomania.