Cardano founder Charles Hoskinson has confirmed plans to collaborate with the US government under Donald Trump to shape crypto legislation. The aim is to create clear regulatory frameworks for the crypto industry, which has faced years of uncertainty and regulatory challenges. Charles Hoskinson outlined these plans in recent statements, stating that support from Democrats and Republicans is needed to develop positive policies for cryptocurrencies. This development comes at a time when Cardano and other major BTC and altcoin networks, including Bitcoin, are struggling with legal challenges with US institutions.
Hoskinson, behind altcoin ADA, confirms collaboration with Donald Trump administration
Cardano founder Charles Hoskinson said that his company, Input Output Global (IOG), will create a separate policy division for crypto regulation. This office will focus on developing a legal framework that includes provisions of the Financial Innovation and Technology for the 21st Century Act (FIT21) and the Responsible Financial Innovation Act (RFIA). “I will work with lawmakers and the administration to pass a bill that will have bipartisan support,” he said. Hoskinson emphasized the importance of cross-party collaboration, emphasizing that the FIT21 bill passed the House with more than 60 Democratic votes, indicating growing bipartisan support for crypto legislation.
Hoskinson’s statements also hinted at the possibility of a Republican-controlled Senate, House, and presidency in the future. He noted that the current political climate presents an opportunity for the industry to find much-needed legal status, saying, “We have the best opportunity ever to achieve the clearest regulations in the history of the industry.”
IOG to hire
Charles Hoskinson said IOG will be hiring for its new policy office by early 2025. This office will also be tasked with interacting with legislators, managing the industry, and promoting moderate regulation. Hoskinson explained that his team will begin advancing the legislative agenda defining securities and commodities related to the altcoin space by approaching “key leaders” in certain positions. He also stated that the industry wants rules that will allow it to develop new products without violating the law, not privilege. “Nobody in this industry has asked for subsidies or bailouts,” he said.
Amid these political changes, there are also warnings for the resignation of US SEC Chairman Gary Gensler, and the crypto community is waiting for Donald Trump’s promises to remove him as soon as he takes office. The Cardano founder said he believes that with these efforts, “they can create trillions of dollars in value and millions of jobs for the American people.” This is not the first time Hoskinson has pushed for crypto policy change, and he is not doing it just for altcoin Cardano. He noted that regulatory clarity is important not only for Cardano, but also for other cryptocurrencies such as XRP, Bitcoin, Ethereum, and Solana.
Hoskinson emphasized that these ecosystems lack clear guidelines and therefore grow slowly, and that the Securities and Exchange Commission (SEC) provides uneven oversight. “Crypto policies should be written by the American people and the American crypto industry,” he said, adding that current policy makes it difficult to innovate. Meanwhile, the Cardano founder emphasized the importance of Bitcoin as the first cryptocurrency, while acknowledging that it has a strong community and that the project’s principles are being adhered to. However, he expressed his dissatisfaction with the slow pace of innovation in the Bitcoin ecosystem, stating that innovations such as Bitcoin OS have brought new areas of use to Bitcoin.
What is the latest situation in the ADA price?
Hoskinson explained that he has political connections that he hopes will facilitate constructive dialogues on crypto policies. He stated that he has friendly relations with some people in the Trump administration, and expressed optimism for future collaborations. However, he admitted that such relations depend on political changes, and said that the talks are in the early stages with the formation of the new administration’s transition team. Following these statements, the Cardano (ADA) price rose by 20 percent to $ 0.5216, reaching a 7-month peak. This move points to a rally that confirms the prediction that ADA could potentially rise to $ 1.
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