Cash News
- Charles Hoskinson plans to open a DC crypto policy office so he can work alongside lawmakers.
- Cardano prices surged amid rumours of Donald Trump selecting Hoskinson as a crypto advisor.
IOHK cofounder Charles Hoskinson has announced plans to establish a policy office in Washington, DC, aimed at building bipartisan support for crypto-friendly regulations.
The news caused Cardano (ADA) to jump over 35%, reaching a high of $0.60 — its highest since April 2024.
Hoskinson’s vision involves working closely with lawmakers to advocate for clear, common-sense regulations for the crypto industry.
“No one in the crypto industry has asked for special rules or treatment,” he stated.
Hoskinson added that fair regulations could enable the crypto industry to add trillions of dollars in value and create millions of jobs.
“The crypto policy should be written by the American people, the American crypto industry, and well-meaning lawmakers who are willing to take the time to listen,” he said.
Hoskinson aims to have his policy office operational by January 2025 to support initiatives like repealing SAB 121 and advancing Senator Cynthia Lummis’ crypto bill.
SAB 121, a controversial SEC rule, requires companies holding digital assets for clients to list them as liabilities, a measure critics argue deters institutional involvement.
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Lummis’ Responsible Financial Innovation Act seeks to clarify digital assets’ legal status and create guidelines for integrating them into the US financial system.
Rumours initially circulated that incoming President Donald Trump might have tapped Hoskinson as his crypto policy advisor, though Trump has not confirmed the claim.
Kyle Baird is DL News’ Weekend Editor. Got a tip? Email at [email protected].