Cardano founder, Charles Hoskinson has shed light on the regulatory and political challenges faced by the cryptocurrency industry. Expressing frustration and discontent with the current United States administration, Hoskinson has urged crypto enthusiasts to take a stance against anti-crypto parties who are contesting in the upcoming US presidential elections.
Cardano Founder Says “Vote Crypto”
In a recent YouTube video, Hoskinson raised concerns regarding the current US administration’s anti-crypto stance. He emphasized a recent policy statement made by US President Joe Biden, who vowed to veto the House of Representatives’ efforts to oppose the United States Securities and Exchange Commission’s (SEC) controversial accounting policy on crypto assets.
In response to Biden’s anti-crypto policy, Hoskinson criticized it as “garbage,” alleging that the government was intentionally limiting the growth of the crypto industry in America. The Cardano founder noted that countries like China and regions like Europe had been actively nurturing their crypto industry, establishing clear regulations and adopting less hostile policies and regulations toward digital asset advancements
Expressing disappointment and frustration, Hoskinson voiced concern over the recent actions of the US SEC and the Biden Administration against the digital asset market, asserting that the administration intends to destroy and severely harm the American cryptocurrency industry. The Cardano founder warned against voting for Biden in the upcoming US Presidential elections, encouraging crypto supporters to take a stand against an administration that continuously undermines the evolution and expansion of the crypto industry.
Additionally, Hoskinson stated that the US administration was systematically obliterating the American’s race and economic potential. He underscored the potential consequences of the administration’s ongoing enforcement actions, warning that the US risked losing its competitive standing globally and facing a grim future characterized by restricted financial options, mounting debts and a weakened economy.
Concluding his remarks, Hoskinson passionately stated to “vote crypto,” declaring that “a vote for Biden was a vote against the American crypto industry.”
Will 50 Million Crypto Supporters Decide The Next US President?
According to Hoskinson, there are over 50 million cryptocurrency users in the United States and the election of a US President with an anti crypto agenda could negatively impact the development of the crypto industry.
More importantly, it could destroy the decentralized foundation cryptocurrencies have been built on, potentially limiting the financial autonomy and security of millions of crypto users in the US, and enforcing actions against good actors within the crypto space.
As of 2022, the adult population of the US stood at 258 million individuals aged 18 years or older. Should 50 million American crypto users vote against Biden in the forthcoming elections, it would signify that 19.38% of the US adult populace opposes him.
The percentage could wield considerable influence in determining the next President of the US. With the presidential elections scheduled for November 5, contenders like Donald Trump and Robert F. Kennedy, who are crypto advocates, are vying for victory.
Featured image created using Dall.E, chart from Tradingview.com
