Cardano Founder Charles Hoskinson Accuses Joe Biden Administration of ‘Joint Effort to Kill Cryptocurrencies’

Cardano founder Charles Hoskinson said US President Joe Biden and his administration are aiming to kill the US cryptocurrency industry.

In a video posted to “The U.S. Cryptocurrency Industry.”

Biden and Cryptocurrency https://t.co/P06encxBEv

— Charles Hoskinson (@IOHK_Charles) May 8, 2024

Charles Hoskinson says the White House is obstructing the legislative process.

The Cardano founder accused the White House of obstructing the legislative process after he said he would veto a resolution calling on the U.S. Securities and Exchange Commission (SEC) to change its accounting framework for digital asset management.

Supporters of the bill said the SEC’s framework stifles innovation in the U.S. digital asset space. The White House said passing the resolution would impact the SEC’s ability to protect investors.

Hoskinson said the move was part of a “concerted effort to kill crypto” by the White House, noting that jurisdictions such as Dubai, Singapore and Switzerland are rolling out the red carpet to welcome cryptocurrency companies.

Trump supports the cryptocurrency community

As Biden irritates the cryptocurrency community, his rival in the upcoming election, Donald Trump, is courting cryptocurrency voters.

At an event for Trump Non-Fungible Token (NFT) holders earlier this week, the former US president criticized Biden for opposing the cryptocurrency industry. He said that unlike Biden, he is not opposed to cryptocurrencies.

“I’m fine. I want to make sure it’s good and solid and everything else is there,” Trump said. “If you are in favor of cryptocurrency, you better vote for Trump.”

I asked Donald Trump how he plans to sustain cryptocurrency businesses in the United States.

I’m optimistic 🇺🇸 pic.twitter.com/rvuztPmQ8P

— Malcolm (33.3%) (@macdegods) May 9, 2024

President Trump also said he would allow his supporters to donate to his campaign using cryptocurrency. Hoskinson believes Trump is the better choice as president and says that while his previous administration had its shortcomings, he mostly ignored the cryptocurrency industry.

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