Charles Hoskinson, the founder of Cardano, announced a plan to establish a policy office within his company, Input Output, to support the development of cryptocurrency policy in the United States.
"I will spend a lot of time working with lawmakers in Washington DC and a lot of time with members of the administration to help drive and facilitate, along with other key industry leaders, cryptocurrency policy," Hoskinson explained in a video posted on the X platform on November 9.
'The best opportunity' is now, Hoskinson says
"We have to do this, and we have to get it done," Hoskinson affirmed.
Hoskinson emphasized that there is a "very high probability" that the Republican party will "not only control the Senate and the Presidency, but also the House of Representatives."
He believes this is the "best opportunity" for the cryptocurrency industry to gain clarity. This comes after Trump's election victory on November 6, when Trump had campaigned with promises to provide a clearer path for the cryptocurrency industry if elected.
Charles Hoskinson declares he is broadcasting "live from warm and sunny Colorado." Source: X/Charles Hoskinson
Hoskinson's statement comes after a few tumultuous years for the cryptocurrency industry, with many cryptocurrency executives believing that the US is falling behind the rest of the world.
The CEO of the Ripple payment network, Brad Garlinghouse, is an example, who has publicly voiced many criticisms in recent years during Ripple's long-running legal battle with the US Securities and Exchange Commission (SEC).
Cryptocurrency policy should be written by 'the American people'
In March 2023, Garlinghouse declared that the SEC's regulatory approach puts the US at "serious risk" of falling behind as a blockchain and cryptocurrency innovation hub.
Meanwhile, Hoskinson believes that cryptocurrency policy should be written by "the American people, the American cryptocurrency industry, and well-intentioned lawmakers."
"None of us signed up for companies like BlackRock to dictate to the United States what cryptocurrency policy should be," Hoskinson declared.
Hoskinson mentioned having "personal friendships" with lawmakers and members of the Trump administration, and expressed hope to "be a part of" shaping policy when Trump begins his term in 2025.
"That remains to be seen based on the fact that they haven't even taken office yet, and they've just chosen a chief of staff," he said.
He hopes this work will lead to a bipartisan bill that will provide "absolute clarity" on what is and is not a security and commodity, allowing cryptocurrency participants to "get back to business as usual."
