- Charles Hoskinson urges the crypto community to vote strategically to influence U.S. cryptocurrency policy.
- Hoskinson slams Biden’s policies, stating that the regulatory tools used by the SEC are putting brakes on innovation and causing losses in terms of employment.
- Prominent crypto leaders are backing Hoskinson in pushing for better regulations to help the industry grow.
Charles Hoskinson, the chairman of Cardano, is deeply concerned about how the US government is handling cryptocurrency regulations. He thinks the next elections present a critical chance for the crypto community to finally influence policy decisions. In Hoskinson’s opinion, the policies of Joe Biden have had a very disastrous effect on this sector.
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Criticism of the Tactics of the SEC
He criticises the administration for supporting aggressive regulatory tactics by the Securities and Exchange Commission, calling it “regulation by enforcement.” According to Hoskinson, this has had a chilling effect on innovating and resulted in substantial job losses within the trillion-dollar industry.
It is in this context that Hoskinson refers to the absence of a Democratic primary, which might have put on the surface Biden’s dwindling competence at large. He displays his frustration towards the media presentation of the events, arguing that it does not put the administration on the spot over these problems.
Support from Other Crypto Leaders
Besides Hoskinson, other prominent blockchain figures share his dissatisfaction with the current regulatory environment. Ryan Selkis, CEO of Messari, and the Winklevoss twins also support Hoskinson’s viewpoint. CEOs from major companies like Coinbase and Ripple (XRP) have turned the crypto lobby into a significant political force, demonstrating the industry’s growing readiness to influence policy directly.
Additionally, Anthony Scaramucci, an influential figure in the investment and crypto sectors, offered only an uninterested endorsement of Biden, preferring this to the unpredictability of former President Trump’s administration. These leaders and Hoskinson are pushing for more favourable regulatory conditions to allow the cryptocurrency industry to thrive.
Call for Strategic Voting
In the next elections, Hoskinson exhorts the cryptocurrency community to vote on a single subject and concentrate on cryptocurrency legislation. This tactic seeks to alter the political climate in order to facilitate the scientific and financial breakthroughs that blockchain technology can provide.
Earlier, Hoskinson strongly rebuked a memo circulated among Democrat Committee members, poised to influence a hearing on digital asset regulation. This instance, among others, fuels his campaign to encourage critical consideration of crypto policies among U.S. voters.
Hoskinson’s critique of the current administration and his call for strategic voting underscore a pivotal moment for the cryptocurrency community. The upcoming elections could be a turning point in shaping favourable regulatory conditions for the growing crypto industry.
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