Altcoins News
By MikeT
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Cardano founder Charles Hoskinson has revealed that he turned down an offer to participate in El Salvador’s crypto adoption plan in 2021, citing serious legal and ethical…
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Speaking on the Shawn Ryan Show, Hoskinson painted a chaotic and concerning picture of El Salvador’s early days of national Bitcoin adoption.
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Hoskinson recalled meetings with eccentric ministers, including a particularly memorable encounter with the Minister of Energy, who enthusiastically declared that “the power of…
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The most troubling part of the proposal, however, came when Hoskinson and his team raised questions about regulatory compliance.
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The turning point came during discussions with U.S. counterparts. Hoskinson claimed that Bukele had intended to conduct a universal airdrop of cryptocurrency to every citizen in…
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“Bukele wanted to do an airdrop to everybody in El Salvador,” Hoskinson explained. “But MS-13 is on the OFAC list.
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Hoskinson further noted that coordinating with the U.S. government at the time was extremely difficult.
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Although Cardano opted out, El Salvador proceeded with its bold Bitcoin initiative. The country made Bitcoin legal tender in 2021 and rolled out its government-controlled Chivo…
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Hoskinson acknowledged the significance of El Salvador’s move despite his personal reservations. “It was a very pivotal moment,” he said.
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The interview quickly drew criticism and skepticism within the crypto community. Some commentators questioned the accuracy of Hoskinson’s version of events.
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To date, neither the Salvadoran government nor U.S. officials have confirmed or denied Hoskinson’s account of the failed negotiations.
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Meanwhile, Cardano’s native ADA token has shown signs of slight recovery. At the time of this writing, ADA was trading at $0.5768, a 2.0% gain over the past week.
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The larger implications of Hoskinson’s claims remain unclear. If accurate, they point to a deeper dilemma facing countries experimenting with national crypto…
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Ultimately, the story raises questions about the real challenges behind crypto adoption at a national scale.
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