Cardano founder Charles Hoskinson has revealed he is setting up a policy office within his company, Input Output, to support cryptocurrency policy development in the United States.
“I’m going to be spending quite a bit of time working with lawmakers in Washington DC and quite a bit of time members of the administration to help foster and facilitate with other key leaders in industry the crypto policy,” Hoskinson explained in a Nov. 9 video posted on X.
“The best opportunity” is now, says Hoskinson
“We have to do this, and we have to get it done,” Hoskinson declared.
Hoskinson reiterated that there is “a very high probability” that the Republicans will “not only control the Senate and the Presidency, but also the Congress, the House.”
He believes this makes it “the best opportunity” for the crypto industry to gain clarity. This follows Trump’s election win on Nov. 6, where Trump campaigned on promises to provide a clearer path forward for the crypto industry if elected.
Charles Hoskinson declared he was broadcasting “live from warm, sunny Colorado.” Source: X/Charles Hoskinson
Hoskinson’s announcement comes after a turbulent few years for the crypto industry, with many crypto executives claiming that the US is falling behind the rest of the world.
Blockchain payment network Ripple CEO Brad Garlinghouse is one example who has voiced multiple public criticisms over the years during Ripple’s prolonged legal battle with the US Securities and Exchange Commission (SEC).
Crypto policy should be written by the “American people”
In March 2023, Garlinghouse stated that the SEC’s regulatory approach puts the US at “severe risk” of falling behind as a hub blockchain and crypto innovation.
Meanwhile, Hoskinson believes that crypto policy should be written by the “American people, the American crypto industry, and by well-meaning lawmakers.”
“None of us signed up to have companies like BlackRock dictate to the United States what crypto policy should be,” Hoskinson claimed.
Related: Trump victory: US crypto industry anticipates clarity, success
Hoskinson mentioned having “personal friendships” with lawmakers and members of the Trump administration, adding that he “hopes to be part of” shaping the policy when Trump starts his administration in 2025.
“That has yet to be decided based upon the fact that they are not even in office yet, and they just picked a chief of staff,” he said.
He hopes the work will lead to a bipartisan bill that will give “absolute clarity” on what is and isn’t a security and commodity and allow crypto participants to ”get back to business.”
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