Cardano, a popular cryptocurrency, has seen a massive price increase recently, jumping 32% in the last 24 hours. This surge is fueled by speculation that Cardano founder Charles Hoskinson could be appointed as President Trump’s advisor on cryptocurrency policy.
Hoskinson’s Vision for Crypto Regulation
Hoskinson has confirmed that he’s interested in working with the Trump administration to develop clear and fair regulations for the cryptocurrency industry. He believes that the current political climate presents a unique opportunity to establish a legal framework for cryptocurrencies.
He’s proposing the creation of a dedicated policy division within the government, focused on developing legislation that aligns with existing financial laws like the Financial Innovation and Technology for the 21st Century Act (FIT21) and the Responsible Financial Innovation Act (RFIA).
Why Hoskinson?
Hoskinson is well-positioned for this role. He’s a co-founder of Ethereum and the founder of Cardano, giving him extensive experience in the cryptocurrency space. He’s also represented the industry before Congress, demonstrating his ability to navigate the political landscape.
A Positive Outlook for Crypto
Hoskinson believes that this is the best chance the cryptocurrency industry has ever had to gain legal clarity. He emphasizes that the industry isn’t seeking special treatment, just clear rules that allow them to innovate without breaking the law.
Cardano’s Price Surge
The speculation surrounding Hoskinson’s potential appointment has significantly impacted Cardano’s price. The coin has surged nearly 70% in the past week, making it the ninth-largest cryptocurrency and the seventh-largest if stablecoins are excluded. This price movement is reminiscent of past market cycles, like Bitcoin’s halving events.
While it remains to be seen if Hoskinson will actually become Trump’s crypto advisor, the speculation alone has had a major impact on the cryptocurrency market. /p>
