Criticism of US Crypto Policies from the Founder of Cardano

Cardano's founder Charles Hoskinson criticized recent developments in the cryptocurrency world, especially in the United States. He expressed that the approach towards the cryptocurrency ecosystem has shifted from innovation and technology production to a more opportunistic orientation, indicating that this situation poses serious dangers for the sector in the long run.

Specifically evaluating the cryptocurrency policies shaped during Donald Trump’s era, Hoskinson argued that the decisions in Washington have evolved into a focus on short-term gains and political interests rather than growing the sector. In this context, Hoskinson emphasized that the reality of cryptocurrency inherently requires long-term research and development as well as open-source development, stating that current policies overlook these needs.

He pointed out that the stringent cryptocurrency regulations in the United States not only threaten the sector but are also designed in a visionless manner, contradicting the spirit of the ecosystem. Hoskinson expressed that evaluating crypto assets merely as a source of tax revenue or as tools for political messaging creates a conflict with the fundamental values of the ecosystem, ultimately highlighting the risk that this approach could push developers and ventures outside of the U.S.

He warned that if these current policies continue, the U.S. risks losing its leadership in the cryptocurrency sector. He noted that it will become inevitable for developers, capital, and new projects to turn towards countries with more predictable and supportive regulations. According to him, the way the cryptocurrency sector is addressed should be determined within the framework of a long-term technology policy rather than short-term political gains. Otherwise, he stressed that this stance could not only affect the cryptocurrency markets but also seriously weaken the U.S.'s position in global technological competition.