As an analyst with a background in the cryptocurrency industry and a keen interest in regulatory developments, I share Charles Hoskinson’s concerns regarding the current US administration’s stance on crypto assets. The potential consequences of an anti-crypto agenda could significantly impact the growth and innovation of the crypto industry in America.
Charles Hoskinson, the founder of Cardano, has shared insights into the regulatory and political hurdles confronting the cryptocurrency sector. Expressing disappointment and annoyance towards the current U.S. administration, Hoskinson has encouraged crypto supporters to actively oppose anti-crypto candidates running for office in the upcoming U.S. presidential elections.
Cardano Founder Says “Vote Crypto”
In his latest YouTube video, Hoskinson expressed worries about the current US administration’s hostile attitude towards cryptocurrencies. He specifically mentioned a recent declaration from President Joe Biden, stating that he would reject any legislative actions from the House of Representatives attempting to challenge the SEC’s contentious accounting rule concerning crypto assets.
In reaction to Biden’s negative stance on cryptocurrencies, Hoskinson voiced his disagreement, labeling it as “unsound.” He argued that the US administration was deliberately hindering the expansion of the crypto sector within the country. In contrast, nations such as China and European regions have been proactively fostering their digital asset industries, implementing clear guidelines and adopting more welcoming approaches towards cryptocurrency innovations.
Hoskinson, with a tone of disappointment and frustration, raised concerns about the latest moves by the US SEC and the Biden Administration towards the digital asset market. He believed that these actions could potentially devastate and significantly harm the American cryptocurrency sector. The Cardano founder strongly advised crypto enthusiasts against supporting the Biden Administration in the upcoming presidential elections and instead, urged them to take a firm stance against an administration perceived as consistently working against the growth and progression of the crypto industry.
Further, Hoskinson emphasized that the current US administration was deliberately erasing the nation’s racial and economic progress. He highlighted the possible repercussions of the administration’s continuous regulatory actions, expressing concern that the United States could lose its edge in the global market and confront a dismal future marked by limited financial resources, burdensome debts, and an economically weakened state.
In wrapping up his speech, Hoskinson urged strongly, “Cast your votes for crypto,” emphasizing that “supporting Biden means going against the US crypto sector.”
Will 50 Million Crypto Supporters Decide The Next US President?
Based on Hoskinson’s assertion, approximately 50 million Americans currently use cryptocurrencies. If a pro-crypto presidency is not elected in the United States, the growth and progression of the cryptocurrency sector could be adversely affected.
As a crypto investor, I cannot stress enough the potential consequences of such legislation. It could undermine the very essence of cryptocurrencies by threatening their decentralized nature. This might limit the financial freedom and security enjoyed by millions of US crypto users, while also targeting honest actors within the crypto community.
In the year 2022, there were approximately 258 million grown-up residents, aged 18 and above, living in the United States. If around 50 million American crypto users were to cast their ballots against President Biden in the upcoming elections, this would equate to roughly 19.38% of the country’s adult population expressing their opposition towards him.
As a data analyst, I can tell you that the percentage of crypto advocacy support among voters could significantly impact the outcome of the upcoming US Presidential election on November 5th. Contenders such as Donald Trump and Robert F. Kennedy, who hold pro-crypto views, are actively campaigning to win over this crucial voting bloc.
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2024-05-20 21:11