Charles Hoskinson promises to advocate for crypto-friendly policies in Washington as Cardano’s price jumps by 35%
Charles Hoskinson is planning to establish a crypto policy office in Washington, DC to collaborate with lawmakers. The rise in Cardano prices was fueled by speculation that Donald Trump may choose Hoskinson as a crypto advisor.
Co-founder of IOHK, Charles Hoskinson, revealed his intention to create a policy office in Washington, DC to promote bipartisan support for crypto-friendly regulations.
This announcement led to a surge in Cardano (ADA) prices by over 35%, soaring to $0.60 – the highest level since April 2024.
Hoskinson’s objective is to collaborate closely with legislators to advocate for clear and practical regulations for the crypto sector.
He emphasized, “No one in the crypto industry is seeking special rules or privileges,” as stated in a tweet.
Hoskinson believes that fair regulations could unlock trillions of dollars in value and generate millions of jobs within the crypto industry.
“Crypto policies should be formulated by the American people, the US crypto industry, and receptive legislators who are willing to engage,” he remarked.
Hoskinson aims to have the policy office operational by January 2025 to support initiatives such as overturning SAB 121 and advancing Senator Cynthia Lummis’ bill on crypto.
SAB 121, a contentious SEC regulation, mandates that companies holding digital assets on behalf of clients classify them as liabilities, a move criticized for discouraging institutional participation.
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Lummis’ Responsible Financial Innovation Act aims to provide clarity on the legal status of digital assets and establish guidelines for their integration into the US financial system.
Speculations initially suggested that incoming President Donald Trump might appoint Hoskinson as his crypto policy advisor, although Trump has not confirmed this.
Kyle Baird serves as DL News’ Weekend Editor. Have a news tip? Reach out via email at kbaird@dlnews.com.
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