In an almost 15-minute video, Charles Hoskinson, co-founder of Ethereum (ETH) and founder of Cardano (ADA), shared his views on President Joe Biden\u2019s administration\u2019s stance towards the crypto industry.<\/strong><\/p>\nHoskinson highlights the statement from Biden\u2019s administration regarding H.J. Res 109. This resolution is against the Securities and Exchange Commission\u2019s (SEC) Staff Accounting Bulletin (SAB) 121.<\/p>\n
Hoskinson Speaks Out Against Biden\u2019s Crypto Regulations<\/h2>\n SAB 121 is particularly interesting for the crypto community since it requires financial institutions to include customers\u2019 digital assets on their balance sheets. Critics see this as a major operational and financial hurdle.<\/p>\n
The White House claimed rejecting this rule would weaken the SEC\u2019s investor and financial system protections. They strongly stated, \u201cif the President were presented with H.J. Res. 109, he would veto it.\u201d<\/p>\n
Read more:\u00a0How Does Regulation Impact Crypto Marketing? A Complete Guide<\/strong><\/p>\nIn response to the current situation, Hoskinson called the idea of regulating crypto under the Securities Act of 1933 \u201can absurd statement.\u201d<\/p>\n
\n\u201cCryptocurrencies can be commodities, securities, currencies, loyalty points, non-fungible tokens. All at the same time. So, how do you do these asset regulations when things can move on daily, weekly, monthly basis? In fact, circumstances can change over time,\u201d Hoskinson explained.<\/p>\n<\/blockquote>\n
Hoskinson also warned that the US might lose all its cryptography experts. He speculated they might move to regions like China and the Middle East. There, adversaries could \u201cweaponize\u201d them against the US.<\/p>\n
However, Hoskinson mentioned that there\u2019s nothing Joe Biden could do to eliminate Bitcoin or cryptocurrencies entirely. Concluding his speech, Hoskinson emphasized the importance of voting for crypto in the upcoming November elections.<\/p>\n
\n\u201cIn November, vote crypto and understand who isn\u2019t voting crypto,\u201d he urged.<\/p>\n<\/blockquote>\n
A crypto community member then challenged Hoskinson. They said the previous administration wasn\u2019t exactly crypto-friendly either. Yet, Hoskinson disagreed.<\/p>\n
\n\u201cYou\u2019re completely wrong. The administration had its issues but mostly ignored our industry. The Biden administration has engaged in a coordinated effort to kill crypto,\u201d he replied.<\/p>\n<\/blockquote>\n
In an interesting turn of events, former US President Donald Trump recently expressed his comfort with crypto. He did so at a special event for his \u201cMugshot Edition\u201d NFT holders in Florida.<\/p>\n
\n\u201cAnd if you like crypto, [\u2026] if you\u2019re in favor of crypto, you better vote for Trump,\u201d he said.<\/p>\n<\/blockquote>\n
Additionally, Trump announced his campaign would accept cryptocurrency donations. This announcement sparked interest online. Yet, it awaits further details from his campaign staff.<\/p>\n
The crypto community welcomed Trump\u2019s support. Plan B, a renowned crypto analyst, expressed his thoughts.<\/p>\n
\n\u201cIf Trump embraces crypto and restores basic human rights [\u2026] then he gets 50% of votes and wins the November 2024 elections!\u201d PlanB wrote.<\/p>\n<\/blockquote>\n
The differing views of Joe Biden and Donald Trump on crypto are notable. This is especially true as the US presidential election approaches.<\/p>\n
Read more: Crypto Regulation: What Are the Benefits and Drawbacks?<\/strong><\/p>\nFinancial-Related Issues that Elected Officials Should Focus On. Source: Blockchain Association<\/figcaption><\/figure>\nAccording to the Blockchain Association, 1 in 5 US voters sees cryptocurrencies as a key issue. They want officials to focus on crypto regulations and investor protections. These issues matter to 33% and 35% of crypto-positive respondents, respectively.<\/p>\n
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Disclaimer<\/p>\n
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our\u00a0Terms and Conditions,\u00a0Privacy Policy, and\u00a0Disclaimers\u00a0have been updated.<\/p>\n<\/div>\n<\/div><\/div>\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"In an almost 15-minute video, Charles Hoskinson, co-founder of Ethereum (ETH) and founder of Cardano (ADA), shared his views on President Joe Biden\u2019s administration\u2019s stance towards the crypto industry. Hoskinson highlights the statement from Biden\u2019s administration regarding H.J. Res 109. This resolution is against the Securities and Exchange Commission\u2019s (SEC) Staff Accounting Bulletin (SAB) 121. […]<\/p>\n","protected":false},"author":1,"featured_media":13824,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-13823","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"\n
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