In March, the White House held a digital assets summit in the State Dining Room and it was attended by several founders except Charles Hoskinson, the co-founder of Ethereum and Cardano, and many found it odd.
After all, there were expectations that Cardano’s token would be included in a crypto strategic reserve. Hoskinson has shrugged off the snub, not seeing why it should bother him when he is not trying to enter their good books.
Charles Hoskinson did not mind not getting invited to the crypto summit
One of the biggest reasons why Hoskinson does not feel left out after not getting an invitation to the summit is that he is not going out of his way to foster a connection to the Trump administration.
”A lot of people want to get close to David Sacks and Bo Hines and build relationships there,” Hoskinson told DL News. “That’s the flavor of the week. It’s nice for optics, but it doesn’t translate into sustainable, permanent policy.”
As far as the billionaire blockchain builder is concerned, he does not need to “make a deal with Trump,” and so spending time with him is not at the top of his list of priorities.
These days, he has his hands filled with promoting blockchain technology — ie, Cardano — to lawmakers, regulators, and even the occasional head of state as a useful tool for government services.
In a bid to win these people over, Hoskinson has become some sort of DeFi diplomat flying around the world to offer insight on forming what he calls sustainable, permanent policy for blockchain technology.
He has even reportedly gotten close to Senator Tim Scott, the influential chairman of the Senate Banking Committee, who is shepherding the landmark stablecoin bill through Congress.
Great dinner with Senator Scott. America's best days are coming pic.twitter.com/r8tXfzhDB9
— Charles Hoskinson (@IOHK_Charles) November 21, 2024
Hoskinson hopes the future of crypto will have stable regulatory laws
Since Trump became president, he has signed an executive order to overhaul crypto policy, established a Bitcoin strategic reserve, and appointed Paul Atkins, a pro-crypto lawyer, to head the Securities and Exchange Commission (SEC).
It has taken the industry several steps forward but, Hoskinson is looking at the long game and hopes that when Trump’s time comes to an end, the changes he made will remain permanent fixtures in the emerging framework for the industry.
He has been advocating for more stable regulatory laws and is currently monitoring a market structure bill that would establish clear regulatory authority by dividing up the responsibilities between the SEC and the Commodity Futures Trading Commission (CFTC).
Solidifying such measures into place is important, Hoskinson has said. “There will be a person after Trump, whether it be JD Vance or a Democrat or somebody else, it’s immaterial,” he stated. “I need a consistent, stable set of rules.”
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