Cardano founder Charles Hoskinson has revealed that efforts to determine a comprehensive regulatory framework for cryptocurrencies in america are gaining significant momentum. In a “Surprise AMA” session on November 17, Hoskinson detailed his recent engagements with US senators and key figures within the crypto industry, outlining a multifaceted technique to position the US as a worldwide leader within the crypto space.

Cardano Founder Reveals His Plan

Hoskinson stated that he has been “talking with plenty of different senators and definitely engaging with the suitable people,” indicating that the subsequent “60 to 90 days” can be crucial in seeing how these efforts come together. He mentioned the potential of traveling to Washington, D.C., in the approaching week, depending on scheduling and the supply of other stakeholders. “I have already got some embedded people who have been in pretty deep conversations,” he added, emphasizing the depth of his team’s involvement in ongoing discussions.

He outlined a comprehensive plan involving three key avenues: administrative changes and rulemaking, executive orders, and lawmaking. “What could be done through administrative changes and rulemaking,” he said, noting these are the “easiest but very ephemeral.” Recognizing the temporary nature of executive orders, he stated that they “live and die by the administration.”

Lawmaking, described as “the toughest but most everlasting,” is important for creating lasting impact. “The hope is to work out a consolidated package of the three to make America one of the best place on this planet for crypto corporations,” he explained. “So we will get all of them to come back here in america, and we will create a multi-trillion-dollar cryptocurrency industry onshore.”

The Cardano founder highlighted several critical areas that need addressing, including taxation, custody standards, consumer protection, and asset classification. He stressed the need of a “Bill of Rights for crypto,” advocating for the support and defense of non-custodial wallets. “Ensuring that we will use crypto the way in which we wish to make use of crypto,” he said, is important for the industry’s growth.

Addressing regulatory overreach, Hoskinson called for resolving issues with the Securities and Exchange Commission (SEC). “So we will get the SEC out of this insanity that we’ve seen the previous couple of years and the regulation through enforcement to come back to an end,” he asserted.

In a move toward industry unity, Hoskinson has reached out to other crypto leaders. “I had an exquisite phone call with Brad [Garlinghouse] from the Ripple community,” he revealed. “He’s a very good CEO. He’s a very good guy too. I’ve known him for years, and it feels good to be back on the identical team.”

He can be within the strategy of connecting with Leemon Baird, co-founder and Chief Scientist of Hedera Hashgraph. “We’re right away within the strategy of getting a call arrange,” the Cardano chief said. “We’ve been going backwards and forwards, and secretaries are working with one another.” He emphasized, “It’s time we come together, speak with one voice, and we get policy where it must be so crypto can get to the subsequent level.”

Hoskinson expressed confidence in the present political climate. “The House, the Senate, and the presidency are all unified in wanting to get crypto policy passed that cleans up this mess,” he noted. With elections concluded, he believes there’s a possibility for decisive motion. “Whether you want them or not, they’ve got to steer, and so they’ve got to get stuff done.” He has set an ambitious timeline: “In the subsequent nine months, we’ve got to get a law passed, and we’ve got to work out make that occur.”

To realize these goals, Hoskinson called for comprehensive data gathering from US crypto businesses. “All of the American crypto businesses must get a survey and want to really write down who they’re, what they do, who their customers are, how they make their money, and most significantly, what’s been occurring with the US government and them,” he explained. This information would feed right into a unified effort to influence policy. “That could be used to get the policy changes, the chief orders, and in addition the laws to get the industry where it must go,” he said.

The Cardano founder also emphasized aligning US regulations with international standards. He mentioned frameworks from the Monetary Authority of Singapore (MAS), regulators in Abu Dhabi and Dubai, and Switzerland’s FINMA. “We will say, ‘Okay, well, that is what they do, and that is what we’re going to do post-law and post-changes, and guess what? We’re going to be primary. That’s the goal,’” he declared.

Concluding his remarks, Hoskinson expressed optimism in regards to the industry’s potential. “That may bring trillions of dollars into the industry, get us to the subsequent level [of] innovation,” he said.

At press time, Cardano traded at $0.725.

Featured image from YouTube, chart from TradingView.com