Cardano Founder Lists Why Donald Trump Is Better Than Kamala Harris

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As a seasoned researcher with a decade-long immersion in the dynamic world of cryptocurrencies and blockchain technology, I find myself intrigued by the ongoing power struggle between crypto platforms and regulatory bodies, particularly the SEC. The latest development – Crypto.com vs. SEC – has once again brought to light the complexities and contradictions inherent in the current regulatory landscape.

Referring to the ongoing lawsuit between Crypto.com and the U.S. Securities and Exchange Commission (SEC), Charles Hoskinson, the founder of Cardano, has leveraged the opportunity to express his views on the inconsistencies in the SEC’s regulatory approach towards the digital asset sector. In doing so, he did not advocate for any particular political figure, such as Donald Trump or Kamala Harris, but rather highlighted the perceived discrepancies in the SEC’s handling of the industry.

Crypto.com vs. SEC Case and How Donald Trump Can Help

Hoskinson’s statement came as a response to FOX Business journalist Eleanor Terrett’s post about Crypto.com suing the SEC.

The cryptocurrency trading platform contends that the regulatory body is exceeding its authority by controlling the digital currency market. It’s worth mentioning that this regulatory entity initially targeted Crypto.com with a Wells Notice, asserting that the assets transacted on their platform fall under the category of securities.

Previously, the issue of inconsistent regulation by the SEC regarding cryptocurrencies had been raised frequently within the crypto community, and this was evident in the ongoing case between the SEC and Coinbase. It appears that there is a discrepancy in how the Howey Test is being applied by the SEC, leading to confusion. In response, Coinbase has escalated its appeal on this matter with the court.

As a researcher studying the crypto landscape, it’s clear that these platforms yearn for a more transparent regulatory environment. Given this, it’s not surprising to see their inclination towards leaders who are pro-cryptocurrency. In his recent post, Hoskinson humorously suggested that another four years of Kamala Harris with Gensler as Chair could potentially bring about significant improvement in this area.

It has been hinted that he might become Treasury Secretary at some point, and Hoskinson clearly expressed his viewpoint regarding this choice between Harris and Trump. The creator of Cardano stated that “Team Red appears to be the most enthusiastic about cryptocurrency, as Trump has launched his own crypto projects,” which makes him a more suitable candidate in this context.

It’s clear that this position is strongly held based on the substantial backing Trump has received compared to his DNC rival. In fact, Polymarket bettors lean towards Trump and he currently leads with a 52.4% chance of winning. Additionally, leaders in the crypto world are transferring their assets to support Trump’s re-election as the Republican presidential candidate.

Fate of SEC Chair 

At the Bitcoin Conference 2024 held in Nashville, Donald Trump revealed his intention to dismiss SEC Chair Gary Gensler on his inauguration day. Despite the US SEC’s criticism towards Bitcoin, Trump pledged to put an end to the agency’s “anti-cryptocurrency campaign.” Additionally, he guaranteed to halt any “harassment and misuse” directed at digital assets.

With the prospect becoming more imminent, discussions are emerging regarding a possible new SEC leader. Some fingers are being pointed at Robinhood’s Chief Legal Officer, Dan Gallagher. Various parties have referenced his past role as an SEC Commissioner, his current position at Robinhood, and his legal proficiency.

It is thought that Gallagher may prove an excellent addition to the team and potentially lead the cryptocurrency sector to new peaks, particularly regarding regulatory matters.

 

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2024-10-08 21:58