Cardano founder Charles Hoskinson has announced plans to collaborate with the impending Donald Trump administration to develop clear crypto regulations.
This comes amid a notable 34% rise in Cardano’s ADA token following a broader crypto rally that pushed Bitcoin to a new all-time high.
Hoskinson to Help Shape Crypto Policy With Trump Administration
On November 9, Hoskinson shared in a video on social platform X that he intends to work with the Trump administration to establish a regulatory framework for the cryptocurrency sector.
“I’m going to be spending quite a bit of time working with lawmakers in Washington DC to help foster and facilitate with other key leaders in the industry with the crypto policy,” Hoskinson said.
He added that his company — Input Output Global (IOG) — plans to set up a dedicated policy division focused on crypto regulations. This new division will work on creating a comprehensive legislative framework that incorporates key elements from the Financial Innovation and Technology for the 21st Century Act (FIT21) and the Responsible Financial Innovation Act (RFIA).
This office will actively engage with lawmakers and other stakeholders, focusing on influencing policymakers in key roles to advance the regulatory framework. Hoskinson also shared that the policy division plans to begin recruiting in early 2025.
“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,” the Cardano founder stated.
Meanwhile, Hoskinson says the incoming Republican administration and a likely majority in Congress are a promising opportunity to bring regulatory clarity to the crypto industry. He highlighted the potential for the new political landscape to deliver long-needed guidance for crypto businesses and users.
Still, he emphasized the importance of bipartisan support for effective legislation. Hoskinson pointed to the recent passage of the FIT21 bill as an example of successful cross-party collaboration. He also noted that several younger Democratic lawmakers are interested in the burgeoning industry and they would play pivotal roles in helping the sector develop.
News of Hoskinson’s plans to collaborate with US officials has coincided with a surge in ADA’s value. Over the past 24 hours, the ADA token has jumped by over 36%, reaching above $0.60 — its highest price level since April — according to BeInCrypto data.
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