The Cardano boss has taken cryptocurrency regulatory matters upon himself as he lobbies regulators in Washington.
While many cryptocurrency experts have only expressed concerns about the lack of regulatory clarity via different social media channels, Charles Hoskinson, the CEO of Input Output Global (IOG), the firm responsible for Cardano’s research and development, has taken cryptocurrency regulatory matters personally.
The Cardano founder noted in a video today that he has been in Washington D.C. for over a week lobbying regulators and various blockchain associations to determine the best approach to regulating the nascent industry.
According to Hoskinson, his trip to Washington D.C. is part of efforts to aid the wider acceptance of cryptocurrencies among policymakers, which would also go a long way to changing misconceptions about digital currencies.
Cardano Focused on Conducting Regulated Businesses
Despite the lack of regulatory clarity for the cryptocurrency sector, Hoskinson noted that Cardano would continue to liaise with relevant regulatory agencies and organizations to conduct regulated businesses.
“The Cardano ecosystem is going to be engaging and has a desire to do regulated business whether it be a security token offering, whether it be regulated, or whether it be legacy financial institutions like banks adopting the protocol,” Hoskinson was quoted as saying in the video.
Increased Calls to Provide Clear Crypto Regulations
In recent times, the United States’ cryptocurrency community has called for regulatory clarity for the industry in order for projects and investors to know how best to conduct themselves in the market.
The United States Securities and Exchange Commission is seeking to seize total control of the cryptocurrency market, as expressed by its Chairman Gary Gensler in a recent video.
Once the SEC’s request is granted, it will completely eliminate the Commodity Futures Trading Commission (CFTC) from getting involved with cryptocurrency regulatory matters.
The SEC has blatantly refused to provide clear regulations that will determine what cryptocurrency should be considered a security.
Hoskinson noted that he is optimistic that the cryptocurrency industry will get the relevant regulation it has demanded for years, adding:
“We will continue as a community to ever get more decentralized and resilient and diverse.”
Hoskinson did not fail to talk about the ongoing work at Cardano, which is focused on making the blockchain more scalable, faster, and more resilient.
As the launch of the Vasil Hard Fork edges closer, the Cardano community is eager to see the blockchain become the favorite network for decentralized application (dApp) developers.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
