Charles Hoskinson Plans to Open a Policy Office in Washington to Lobby the Trump Administration on Crypto Regulation

In the wake of Donald Trump's presidential election victory, Cardano founder Charles Hoskinson has announced plans to open a policy office in Washington

Cardano founder spearheads effort to open crypto policy office in D.C.

Following Donald Trump’s victory in the U.S. presidential election, several key figures from the crypto industry have announced plans to engage with the new administration.

One of the most prominent figures is Cardano founder Charles Hoskinson, who announced his intention to open a policy office in Washington, D.C., to influence crypto regulation in the country.

Hoskinson, who is known for his outspoken nature and frequent criticisms of other crypto projects, highlighted the need for greater involvement from the American people, the crypto industry, and well-meaning lawmakers in shaping crypto policy.

Currently, large institutions like BlackRock have a significant influence on crypto policy, a situation that Hoskinson finds concerning.

With Republicans poised to control the Senate, presidency, and House of Representatives, Hoskinson believes that the timing is optimal for engaging with lawmakers and influencing policy.

As part of his plan, Hoskinson’s company, IOHK, will staff a policy office in Washington by January 2025, when Trump takes office.

The office will focus on bipartisan approaches to crypto regulations, with a particular emphasis on resolving the longstanding debate over securities.

Hoskinson’s announcement has sparked mixed reactions within the crypto community.

While some appreciate his initiative, others have expressed skepticism and even outrage, especially given Hoskinson’s past behavior and criticisms of the Bitcoin ecosystem.

Despite the backlash, Hoskinson’s announcement had a positive impact on the crypto market, with the price of Cardano’s ADA token surging over 30% in the 24-hour period following the news, reaching a multi-month high of over $0.6.