Cardano’s founder, Charles Hoskinson, announced that he’s establishing a policy office within his company, Input Output. The goal? To help shape and support crypto policy in the US. Hoskinson said in a Nov. 9 video posted on X.
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.
Additionally, Hoskinson highlighted a “very high probability” that the Republicans will control the Senate, the Presidency, and the House of Representatives. He believes this is “the best opportunity” for the crypto industry to get some regulatory clarity finally. This comes after Trump’s election victory on Nov. 6, during which he promised to create a clearer path for the cryptocurrency industry if elected.
Hoskinson seeks bipartisan crypto reshape
Hoskinson’s announcement follows a turbulent period for the crypto industry, as more leaders in the field say the U.S. is slipping behind other countries. One such example is Ripple CEO Brad Garlinghouse, who has repeatedly criticized U.S. regulations throughout Ripple’s lengthy legal clash with the Securities and Exchange Commission (SEC).
In Mar. 2023, Garlinghouse expressed concerns that the SEC’s strict regulatory approach could seriously threaten the U.S.’s position as a leader in blockchain and crypto innovation. Meanwhile, Hoskinson argued that crypto policies should be shaped by the American people, the U.S. crypto industry, and lawmakers with a genuine commitment to the sector.
Additionally, Hoskinson shared that he has personal connections with lawmakers and members of the Trump administration. He expressed his desire to help shape policy if Trump takes office in 2025. He hopes this effort will lead to a bipartisan bill that clearly defines what counts as a security versus a commodity, allowing the crypto industry to focus on growth without uncertainty.
