Hoskinson Takes Crypto Policy Matters into His Own Hands
Cardano's founder Charles Hoskinson has announced the launch of a dedicated policy office within his company, Input Output, to advance cryptocurrency regulations across the United States.
This office, located in Washington DC, is Hoskinson’s effort to bring clarity to crypto policies and engage more actively with lawmakers on behalf of the industry.
In a video posted on X on 10 November, Hoskinson revealed his plans to directly work with lawmakers and key figures within the Biden administration to push for a regulatory framework that embraces cryptocurrency growth.
Speaking passionately about his decision, Hoskinson highlighted the urgency of the situation, saying,
“We have to do this, and we have to get it done.”
He stressed the unique opportunity he sees ahead, should the Republicans seize control of the Senate, House, and Presidency following Trump’s recent election win.
This change in political power, he argued, creates an ideal climate for the crypto sector to attain long-sought regulatory clarity.
Trump’s Win Prompts Hopes for Pro-Crypto Regulation
The results of the recent US presidential election on 6 November, which saw Donald Trump reclaim the White House, have sparked optimism within the crypto industry.
Trump’s campaign included commitments to provide a clearer path for cryptocurrency regulations, a move that has resonated with industry leaders frustrated by the current regulatory environment.
Hoskinson expressed optimism that, under the Trump administration, there’s a real chance for bipartisan cooperation on a crypto-friendly legislative framework that will create the regulatory transparency the industry has long needed.
Hoskinson, who claims “personal friendships” with members of the incoming administration, aims to contribute directly to this legislative push, starting as early as 2025 when Trump takes office.
While rumours have circulated about the possibility of Hoskinson serving as a crypto policy advisor to the new administration, the claim remains unconfirmed by Trump himself.
Nonetheless, Hoskinson seems determined to play a crucial role, regardless of any official appointment.
Ripple’s Garlinghouse Backs the Call for Clarity
Brad Garlinghouse, CEO of Ripple, has long criticised the US regulatory approach, particularly during Ripple’s drawn-out legal battle with the Securities and Exchange Commission (SEC).
Garlinghouse has repeatedly argued that the US is falling behind in the race to be a global crypto hub.
In March 2023, he warned that the SEC’s actions put the nation at “severe risk” of lagging behind in blockchain and crypto innovation.
Hoskinson shares similar sentiments, contending that crypto policies should be crafted by the “American people, the American crypto industry, and by well-meaning lawmakers.”
In his recent address, Hoskinson expressed disdain for financial giants like BlackRock dictating crypto policy, stating,
“None of us signed up to have companies like BlackRock dictate to the United States what crypto policy should be.”
His vision for crypto regulation is focused on fair and open discussions among the public, the industry, and the government.
Aiming for Common-Sense Regulation and Economic Growth
Hoskinson’s policy office plans to tackle a range of significant initiatives once operational by January 2025.
Among his priorities is the repeal of SAB 121, a contentious SEC rule requiring companies holding digital assets on behalf of clients to list these as liabilities.
Critics argue that SAB 121 deters institutional involvement by creating an unnecessary financial burden.
Hoskinson also plans to advocate for Senator Cynthia Lummis’ “Responsible Financial Innovation Act,” a bill aimed at clarifying the legal status of digital assets and providing a framework for their integration into the US financial system.
In Hoskinson’s view, such measures are essential for the crypto industry to reach its potential, potentially adding trillions of dollars in value and generating millions of jobs.
“No one in the crypto industry has asked for special rules or treatment,” he stated, emphasising the industry’s desire for fair and practical regulations that would allow it to grow without compromising US financial stability.
Market Response to Hoskinson’s Announcement
Hoskinson’s declaration has already impacted the market, with Cardano (ADA) experiencing a surge of over 35%, reaching a peak of $0.60 – the highest since April 2024.
This jump reflects investor enthusiasm for the prospect of regulatory clarity, which could unlock significant growth opportunities for ADA and other cryptocurrencies.