Donald Trump's return to the White House has sparked excitement among many crypto industry players. However, Charles Hoskinson, the founder of Cardano, disagrees. He views the 45th US President's crypto "reserve projects" as a potential threat to the sector. Find out more.
Donald Trump’s proposal to create a “crypto reserve” in the United States does not convince Charles Hoskinson, the founder of Cardano. According to him, this initiative would be a hindrance to innovation in the cryptocurrency sector.
Hoskinson believes that the concept of a crypto reserve is too “rushed” and does not take into account the specificities of this universe. Indeed, cryptocurrencies are characterized by their decentralization and independence from traditional institutions. A state-managed crypto reserve would go against these fundamental principles.
Furthermore, the founder of Cardano fears that this reserve could become a tool for control and surveillance of crypto transactions by the U.S. government. Such centralization of digital assets would, in his view, contradict the very spirit of the blockchain and cryptocurrencies.
Beyond the risks associated with the crypto reserve, Charles Hoskinson is more broadly concerned about the economic policy envisaged by Donald Trump since his return to the White House.
The Cardano founder believes that the protectionist and unilateral initiatives of the Republican could weaken the crypto ecosystem as a whole. According to him, a trade war with China or a challenge to international agreements would be particularly damaging to a sector that needs a stable and predictable regulatory framework on a global scale.
Additionally, Hoskinson warns against Trump’s temptation to “politicize” cryptocurrencies for electoral purposes. He fears that the 45th president may seek to use digital assets as a power leverage, to the detriment of their autonomous development.
In summary, faced with Trump’s ambitions in the crypto space, Charles Hoskinson calls for caution. According to him, cryptocurrencies should not become a political issue but should be able to develop freely within a balanced regulatory framework.
The Cardano founder believes that Trump’s return to the White House could hinder innovation and growth in the sector. He urges the crypto community to remain vigilant and to defend the independence of the sector against attempts of political instrumentalization. It is worth noting that he has stated to have met several senators to discuss crypto legislation.
Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
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