Cardano founder Charles Hoskinson suggests former U.S. President and Republican Party presidential candidate Donald Trump will provide more support for the U.S. crypto industry than Vice President Kamala Harris.
Hoskinson made the assertion during a recent interview with CNBC at the recently concluded TOKEN2049 conference held in Singapore.
. @IOHK_Charles on CNBC speaks about the pro-crypto stances of the @realDonaldTrump administration and international jurisdictions, and the benefits crypto brings to America. #Cardano pic.twitter.com/FlhfV83Yeq
— St₳ke with Pride 🌈 SPO & DRep (@StakeWithPride) September 20, 2024
According to him, any presidential candidate speaking at crypto-related conferences or launching decentralized finance (DeFi) projects would likely be more crypto-friendly than someone who appointed SEC Chair Gary Gensler.
Trump and Harris Crypto Support
It bears mentioning that Donald Trump delivered a speech at the Bitcoin Conference in July. At the event, Trump promised to support favorable crypto regulations, adding that he would sack Gensler on his first day as president.
Since attending the Bitcoin Conference, Trump has showcased his support for the industry on various occasions, including launching a DeFi project dubbed World Liberty Financial and using Bitcoin to purchase cheeseburgers for his supporters.
Conversely, under the leadership of Joe Biden and Kamala Harris, the current administration is considered hostile toward crypto. This is reflected in the numerous enforcement actions the SEC, under Gensler’s leadership, has introduced against crypto businesses like Ripple, Binance and Coinbase.
Following Trump’s enthusiasm for cryptos, Cardano’s founder emphasized that he “is the favorite [presidential candidate] from a cryptocurrency perspective.”
Hoskinson Says the World is Moving On
Furthermore, Hoskinson indicated that whether the United States eventually becomes a pro-crypto nation is immaterial. He said the world is moving on and achieving major milestones regarding crypto regulations.
The Cardano boss mentioned Singapore, Switzerland, and the U.K. as nations making progress in crypto.
“So the world, with or without America, is embracing cryptocurrencies. As an American, it would be nice to see our country get back into the race and build things. Regardless, it won’t change the fact that the world will be decentralized,” Hoskinson remarked.
Every Politician Is An Opportunist
Responding to questions on whether Trump’s support for crypto is opportunistic given his family’s crypto venture, the Cardano boss acknowledged that all politicians, including the former U.S. President, “has some degree of opportunism.”
Notably, he cited Nancy Pelosi, former speaker of the House of Representatives, as an example of a political opportunist.
Republicans are More Crypto-Friendly Than Democrats
Meanwhile, Hoskinson pointed out that politicians within the Republican Party are more open to discussing sensible crypto regulations than most of their colleagues in the Democratic Party.
He acknowledged the presence of an age divide in the Democratic Party, noting that while elderly members like “the Elizabeth Warrens and Joe Bidens” are strictly against cryptos, the younger ones are not.
The majority of crypto enthusiasts share the same sentiment Hoskinson has about Trump. Notably, top crypto stakeholders have made significant donations to Trump’s campaign to help unseat the current administration that has shown hostilities toward the industry.
Specifically, Gemini founders Cameron and Tyler Winklevoss donated approximately $1.7 million in Bitcoin to Trump’s campaign earlier this year. Also, Ripple’s CLO Stuart Alderoty followed suit with a 624,000 XRP donation.
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