Charles Hoskinson, founder of Cardano, has expressed his support for Coinbase CEO Brian Armstrong to take on the role of Crypto-Czar at the White House. In a detailed post on social media, Hoskinson pointed out that Armstrong has been an influential figure in the cryptocurrency space.
He further added that Armstrong’s ability to withstand the pressure from regulators is the major reason why he is suitable for the position. Hoskinson stressed that the U.S. government requires an impartial and informed mediator between the government and the crypto space. He noted that Armstrong has managed to steer the company clear of legal issues and make Coinbase a leading player in the cryptocurrency space.
“Coinbase has grown into one of the pillars of crypto and has had to endure the unfair tactics of a government committed to regulation through enforcement,” Hoskinson stated. He said that Armstrong has the potential to bring everyone together and work towards a common goal of attaining the right legislation that will encourage innovation.
Hoskinson plans to push for crypto-friendly legislation
Hoskinson also mentioned that he would be going to Washington, D.C., to lobby for cryptocurrency policy. He cited his time in Wyoming, where he helped craft 31 pieces of blockchain legislation and laid out new plans to champion regulatory certainty.
One such initiative is Operation Baseline, which will begin in January through IO Policy. This project proposes to conduct a landscape review of the cryptocurrency industry in the United States in order to understand the problems that exist and potential solutions. The results of the project will be presented to the policymakers and future Crypto Czar to inform the policy and legal frameworks.
Hoskinson also stressed the importance of building the right ecosystem for the blockchain and crypto businesses. “The president’s goal is to make America the best place in the world to start and run a cryptocurrency and blockchain business,” he said, calling for unity within the industry to achieve this objective.
Trump meets Armstrong to discuss crypto strategy
Armstrong’s influence is not limited to Hoskinson’s endorsement. Armstrong was reported to have met with President-elect Donald Trump yesterday to discuss personnel changes in the new administration, as reported by Cryptopolitan. This is the first time that Armstrong and Trump have met since the recent re-election of Trump on November 6.
In his second term, Trump has vowed to create a Bitcoin and crypto advisory council to help set up clear rules for the industry within the first 100 days. Although Armstrong did not directly participate in Trump’s campaign, he stated that he was ready to cooperate with the administration.
Armstrong has also backed Hester Peirce, the SEC Commissioner, as the best candidate to head the commission in case of a leadership change. Recent activities of Trump show that he is determined to deliver on his pre-election promises of making the United States the “crypto capital of the world.”
He has reportedly met with several big names in the sector, including the CEO of Ripple, Bradley Garlinghouse, and Circle executives. Trump has also appointed proponents of Bitcoin to important positions, such as Elon Musk, CEO of Tesla, and Vivek Ramaswamy, an entrepreneur who will co-head the new Department of Government Efficiency (D.O.G.E.).
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