Biden’s Policies Under Fire
Cardano founder Charles Hoskinson is calling on US voters to focus on crypto in the upcoming elections. He believes blockchain technology can revolutionize the country’s economy, politics, and society.
Hoskinson is particularly critical of President Joe Biden’s administration, accusing it of stifling the crypto industry through its “regulation by enforcement” approach. He claims this has led to job losses and hindered growth.
SEC’s Approach
Hoskinson argues that the Securities and Exchange Commission’s (SEC) strategy of “regulation by enforcement” has caused significant harm to the crypto industry. He believes the Biden administration is intentionally trying to “destroy the American cryptocurrency industry.”
International Comparison
Hoskinson contrasts the US regulatory environment with countries like Singapore and Switzerland, which have embraced crypto. He suggests that many crypto companies would prefer to be based in the US if the regulatory climate were more favorable.
Industry Support
Other crypto leaders, such as Messari CEO Ryan Selkis and the Winklevoss twins, share Hoskinson’s concerns. They are advocating for more supportive crypto regulations.
Voters’ Decision
The upcoming elections will be crucial for the future of the American crypto industry. Voters are urged to consider the long-term impact of their choices on the nation’s economic and technological development. The debate over crypto regulation is expected to play a significant role in the political discourse.
