Charles Hoskinson, the founder of Cardano, has publicly endorsed Brian Armstrong, CEO of Coinbase, for a potential position within Donald Trump’s White House focused on cryptocurrency policy. Hoskinson believes Armstrong stands out as the leading candidate in the crypto sector for this influential role.
Why Does Hoskinson Support Armstrong?
In his commentary on the X platform, Hoskinson highlighted the necessity for a neutral figure to engage with diverse protocols and deeply understand the essential characteristics of cryptocurrency. He stressed that the chosen candidate should also be aware of the Biden administration’s missteps regarding crypto regulation.
What Are Hoskinson’s Plans for Legislative Change?
Hoskinson pointed out that Coinbase has cemented its status as a pillar of the cryptocurrency landscape, noting its resilience against the U.S. SEC’s regulatory challenges. He has initiated efforts to collaborate with lawmakers to promote legislative changes that would eliminate government overreach in the crypto realm, planning to formally engage with various legislators in Washington, D.C.
His ambitious ‘Operation Baseline’ project is set to launch in January 2025, aiming to relay crucial information to the prospective White House crypto advisor while fostering connections with other industry leaders. Key discussions will also address Cardano’s Midnight Protocol and XRP along with Ripple CTO David Schwartz.
- Hoskinson believes a neutral advisor is needed for effective regulation.
- He sees Coinbase as a critical entity in the crypto field.
- Plans for a project to reform federal regulations are underway.
- Engagement with lawmakers is a priority for legislative progress.
With Donald Trump reportedly contemplating the introduction of a dedicated crypto position in his administration, Hoskinson’s advocacy illustrates a desire for a more cooperative relationship between the cryptocurrency sector and government regulators, aiming for fairer practices and promoting the United States as a leader in the digital currency landscape.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
