Charles Hoskinson, founder of Cardano, blamed US politics for the slow progress of cryptocurrency regulation. He attributed the postponement of the Digital Assets Market Clarity Act to increased political uncertainty. In particular, the Democrats’ approach to the industry.
Charles Hoskinson highlights Democrats’ anti-crypto campaign
In X live feedHoskinson looked back to his early battles with political leaders. He said: “It would not have been wise in 2025 for us to meet with the President of the United States.” Hoskinson added that in hindsight, his concerns seem justified.
He also criticized the government’s involvement in cryptocurrency projects. He questioned whether government officials should “issue their own coins and systems for their own gain.”
Hoskinson linked these actions to the current regulatory standoff where the CLARITY Act continues to suffer from delays. Here, he is likely talking about projects such as US President Donald Trump’s World Liberty Financial, which is facing a crisis Lawsuit against Justin Sun.
Hoskinson went on to explain the state of the industry. “And now, where are we? The resigned cryptocurrency czar, the lack of a clear law, and a very difficult election season,” he said. He said Democrats have become more aggressive on cryptocurrencies than they were in the Gary Gensler era.
He also warned that politics plays a role in public opinion. “All the good we did doesn’t matter because crypto equals Trump,” he said. He called on the industry to go beyond political labels and look outward to the world.
Meanwhile, the Clarity Act is still being debated in Congress. Congress is still working to resolve the differences. Questions remain about decentralized finance and political dynamics. Agreement on stablecoin rules regarding yield appears imminent but has not been finalized.
Hoskinson also expressed concerns about what will happen to the bill. He said it could take “15 years of rulemaking and slow trading.” He also said that a change in political power could affect the law.
What happens around the law of clarity?
Meanwhile, on Capitol Hill, Senator Bernie Moreno was optimistic. He said they could pass the bill quickly. However, he also said it may be removed from the agenda if it is not finalized before May.
Moreno brushed off banks’ concerns about stablecoin rewards. He said these concerns are “completely false” and innovation must be accelerated.
However, Senator Thom Tillis wants to delay the CLARITY Act’s markup. Request to chat with Tim Scott. Work continues to attract industry and regulators.
He noted that this additional time could be used to settle the controversy over stablecoin returns between banks and cryptocurrency companies. And then he is too Stablecoin return draft postponed.
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