Hoskinson discussed the potential role of Cardano and other leading blockchain projects like Multiverse, Algorand, and Hedera in shaping the crypto policy landscape under the new U.S. administration.

Hoskinson believes that proper regulation is critical for the growth of the crypto industry. He emphasized the need for clearer rules to provide the clarity needed for widespread adoption and innovation in the sector. According to Hoskinson, the industry was heading in the wrong direction under the previous administration, with what he described as aggressive actions against crypto companies. He urged the new government to take a more balanced approach, starting with three key steps.

Proposed Reforms in U.S. Crypto Policy

1. Lifting Unfair Lawsuits Against Crypto Companies: One of Hoskinson’s primary suggestions is for the U.S. Securities and Exchange Commission (SEC) to review and withdraw lawsuits filed against crypto companies like Coinbase and Kraken. He believes these legal actions were unjust and hindered the industry’s growth. With new leadership at the SEC, Hoskinson hopes there will be an opportunity to reassess these cases and develop a more favorable environment for crypto companies.
2. Collaborative Strategy for Crypto in the U.S.: Hoskinson proposed that the U.S. government should collaborate across its branches to create a unified strategy for crypto. He suggested setting up a policy office dedicated to discussing and developing the regulatory framework for the industry. This office would focus on the classification of digital assets, such as determining whether they should be considered securities or commodities. Establishing clear guidelines would help prevent confusion and promote a fair regulatory environment.
3. International Harmonization of Crypto Regulations: The Cardano co-founder also stressed the importance of aligning U.S. crypto regulations with global standards. Many countries, including those in Europe, the Middle East, and Asia, have already made significant strides in regulating digital currencies. Hoskinson believes the U.S. needs to adopt similar measures to remain competitive on the world stage. Global harmonization would ensure that the U.S. is not left behind as other regions continue to advance blockchain technology.

Collaboration Among Blockchain Projects

Hoskinson has been in discussions with key figures from other blockchain projects, including leaders from Hedera Hashgraph, Algorand, and Multiverse. These talks aim to develop a collective approach to influencing U.S. crypto policy. Hoskinson believes that by working together, these industry leaders can push for the necessary changes to improve the regulatory environment for cryptocurrencies. A key focus of these discussions is the need for clear asset classifications and creating a legal framework that encourages innovation while ensuring proper oversight.

Looking Ahead to Crypto Policy Under President Trump

Hoskinson’s comments come at a time when there are growing expectations that U.S. President-elect Donald Trump could make significant changes to the country’s stance on crypto. Trump has expressed his support for creating a crypto-friendly environment in the U.S., which could include policies designed to foster innovation and attract crypto companies to operate within the country.

Hoskinson has indicated that he plans to work closely with lawmakers in Washington, D.C., and members of the new administration to help shape the future of U.S. crypto policy. He hopes to be part of the conversation on how to create a regulatory framework that balances the need for innovation with the importance of security and transparency.

Conclusion

Charles Hoskinson’s vision for the future of crypto in the U.S. revolves around clear and fair regulations, collaboration between industry leaders, and alignment with global standards. By taking a proactive role in shaping U.S. policy, Hoskinson and other key players in the crypto space hope to create an environment where innovation can thrive. His push for regulatory clarity and global coordination reflects the growing importance of cryptocurrencies in the global financial ecosystem and the need for effective governance to support their future development.