Charles Hoskinson, an inventor of the Cardano blockchain, has lately expressed his displeasure with a paper that has been circulating among Democratic Committee members and which reveals their position on cryptocurrency legislation.
Hoskinson, who has made significant contributions to the blockchain business, has condemned the message and urged voters to make blockchain technology their exclusive focus in the upcoming elections.
Over the weekend, Hoskinson tweeted that bringing cryptocurrency regulation into the spotlight of elections is the only way to stop the “madness” in government. He advocated for crypto aficionados to vote for politicians that support pro-crypto policies.
Hoskinson: Democrats want to rally down crypto
Hoskinson is rallying support because he thinks the government will crack down on the cryptocurrency sector, as suggested by the Democrat letter. The letter, received by Fox News reporter Eleanor Terrett, outlined the Democrats’ stance on crypto legislation and included numerous “key messages” for the committee’s members.
According to the letter, Democratic Committee members were advised to support the Securities and Exchange Commission’s (SEC) claim of exclusive responsibility over crypto regulation. Noting that non-compliance is more of a problem in the crypto field than uncertainty, it concluded that most cryptocurrencies should be classed as securities.
The document also criticized Republican lawmakers on the committee who have called for less funding for banking regulators. It implied that these Republicans were not genuinely interested in preserving investor interests and that they should instead be concentrating on passing a clean debt limit deal rather than backing pro-crypto legislation.
Over 900,000 people have reacted to the memo’s contents, which has generated widespread interest in the crypto world. Concerns have been voiced by industry executives and professionals who agree with Hoskinson’s perspective about the anticipated regulation course.
Hoskinson’s call for Americans to become one-issue voters on cryptocurrencies comes when the discussion over crypto regulation is heating up. Citizens can affect the course of the business and ensure its survival by making this a top priority and voting for politicians who support pro-crypto policies.