Cardano and Ethereum Founders Slam Government Over Crypto Regulation Tactics

Cardano founder Charles Hoskinson has fiercely criticized the U.S. government’s approach to crypto regulation in a recent X post, arguing against President Biden’s re-election.

My first goal has always been to keep government out of crypto completely. In the places where that’s not possible, the choice is pretty clear. If they want a CBDC, sue non-custodial wallets, systematically jail the leaders of Crypto, call everyone a security, and bully and… https://t.co/T7qZwPdJPA

— Charles Hoskinson (@IOHK_Charles) July 17, 2024

Hoskinson characterized politics as a “game of cause and effect,” highlighting the manipulative tactics employed by political parties to secure victory. His post followed Ethereum founder Vitalik Buterin’s cautionary message about discerning truly “pro-crypto” candidates.

Buterin argued that a candidate’s recent pro-crypto stance may not reflect their underlying values or long-term intentions. He urged voters to scrutinize a politician’s broader views on freedom and technology before labeling them as pro-crypto.

“If you see a ‘pro-crypto’ politician today, it’s worth it to explore their underlying values, and see which side they will prioritize if a conflict does arise… If a politician is in favor of your freedom to trade coins, but they have said nothing about the topics above, then the underlying thought process…is very different from mine (and possibly yours.)”

Buterin also exposed the manipulative tactics of governments seeking to exploit crypto for their own ends, citing Vladimir Putin’s embrace of the technology to circumvent economic sanctions.

Hoskinson echoed this sentiment, emphasizing his primary goal of keeping the government’s influence out of the crypto space. He further elaborated on the government’s tactics of intimidation and harassment to coerce industry leaders into compliance.

With the 2024 election looming, it is clear that crypto’s place in American politics is anything but settled. The clash between industry leaders like Hoskinson and Buterin and the regulatory powers that be is only heating up, leaving the crypto community to grapple with which candidates truly have their best interests at heart.

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