Charles Hoskinson, the founder of Cardano, recently shared his insights into the possibility of playing a role in shaping U.S. cryptocurrency policy during the ongoing transition under President-elect Donald Trump. In a Sunday evening YouTube livestream, Hoskinson discussed his vision and potential contributions to future crypto regulations.
Could the Cardano Founder Have a Role in Trump’s Administration?
Hoskinson highlighted the “clear” potential for his involvement in influencing U.S. crypto policy, though he cautioned against overinflated expectations. “There’s a lot of uncertainty, and many discussions are taking place, but it’s clear that I will be involved in some capacity in shaping policy in the U.S.,” he remarked. He also noted, “It’s hard to say definitively whether one person will be appointed as a crypto czar, or if a larger group from the industry and the administration will come together to work out a solution.” In response to rumors, Hoskinson clarified, “It’s inaccurate to claim that I’m leading U.S. crypto policy,” stressing the need to set realistic boundaries for his possible role.
He also provided an update on key legislative efforts like the Financial Innovation and Technology for the 21st Century Act (FIT 21) and the Financial Innovation Act (FIA). He stressed the bipartisan nature of these initiatives and their critical role in establishing a regulatory framework. “There have already been two major initiatives, one of which was quite successful—FIT 21—which passed the House with strong bipartisan backing, including 61 Democratic votes,” he noted.
Hoskinson discussed ongoing conversations with influential figures in the Senate, such as Senators Scott and Blackburn, expressing optimism about the potential for bipartisan support. “We’ve already started reaching out to those involved in these efforts to help put the pieces together,” he explained.
In response to the scattered approach within the transition team, Hoskinson revealed plans to establish a dedicated policy office designed to unify the crypto legislative efforts. “We’re setting up a policy office to bring all these efforts together,” he said.
This new office aims to tackle key issues such as asset classification, stablecoins, custody standards, taxation, and the government’s ability to purchase and hold Bitcoin. Hoskinson further explained that the office’s goal would be “to coordinate and bring together enough resources to help push a law through the legislative process.”
Hoskinson also addressed the challenges and ethical dilemmas involved in providing advice on crypto policy during the upcoming Trump administration. “It’s still unclear how the advisory roles will work, how many there will be, and what measures will be in place to address conflicts of interest and ethical concerns,” he remarked.
A major theme in Hoskinson’s remarks was the need for a bipartisan approach to cryptocurrency regulation. “We can’t let cryptocurrency policy in the U.S. become a partisan issue. It needs to remain a bipartisan matter,” he emphasized.
Looking ahead, Hoskinson expressed cautious optimism about making significant legislative progress. “We expect the policy office to be fully staffed within the next two to three months. We’ve already begun reaching out to key people to help bring these efforts together,” he concluded.
As of the latest market data, Cardano is trading at $0.6036.