Cardano founder Charles Hoskinson recently put forth a recommendation for a potential candidate for the role of a crypto policy leader in the second administration of former President Donald Trump. In a post on X, Hoskinson outlined the qualities necessary for a “Crypto-Czar,” emphasizing the need for neutrality, collaboration across different crypto protocols, and a deep understanding of the value that cryptocurrencies bring to the table. He also expressed his dissatisfaction with the current administration’s approach to regulating the crypto sector.
Hoskinson specifically pointed to Brian Armstrong, the CEO of Coinbase, as a prime candidate for the position. Armstrong’s leadership at Coinbase, which has grown to become the largest cryptocurrency exchange in the United States and one of the first publicly traded crypto companies, makes him a fitting choice according to Hoskinson. He commended Armstrong’s ability to navigate regulatory challenges and unite the industry to drive legislative progress, stating, “I know [Armstrong] could build a broad tent coalition to bring the industry together and help us get the government rallied behind real action including passing new laws.”
However, despite Hoskinson’s endorsement, some members of the crypto community have suggested alternative candidates for the role, including pro-XRP attorney John Deaton.
In addition to proposing Armstrong for the crypto policy role, Hoskinson outlined his plans to support legislative efforts within the crypto industry. Drawing from his experience in Wyoming, where he played a role in passing 31 crypto-focused laws, Hoskinson intends to collaborate with Congress to address federal overreach and establish regulations that promote blockchain adoption among traditional industries.
In January, Hoskinson’s company Input Output’s Policy initiative will launch “Operation Baseline,” a project aimed at analyzing the US crypto landscape, identifying inefficiencies, and proposing actionable policies. These findings will be shared with lawmakers and the potential Crypto-Czar to set clear objectives for regulatory reforms.
Hoskinson emphasized the importance of industry-wide collaboration in making the United States a leading hub for crypto and blockchain innovation, stating, “The president’s goal is to make America the best place in the world to start and run a cryptocurrency and blockchain business. We as an industry have to come together to make that happen.”
The integration of Armstrong into the proposed role of a crypto policy leader could potentially pave the way for significant advancements in the regulatory landscape for cryptocurrencies in the United States, ultimately fostering a more conducive environment for innovation and growth within the industry.