Co-founder of IOHK Charles Hoskinson announced plans to create a policy office in Washington to ensure bipartisan support for crypto-friendly regulations.
Having initially bet on Biden, Hoskinson is now looking to work with everyone at once. He plans to work with the officials who are responsible for advocating for clear and reasonable rules for the crypto industry.
No one in the crypto industry asked for special treatment or rules, Hoskinson wrote.
Hoskinson added that fair regulation would allow the crypto industry to increase its capitalization by trillions of dollars and create millions of jobs.
Cryptocurrency policy needs to be written by the American people, the American crypto industry, and legislators who are willing to take the time to listen, he said.
Hoskinson aims to create a policy office by January 2025 to support initiatives such as repealing SAB 121 and advancing Senator Cynthia Lummis' bill to clarify the status of cryptocurrencies and bring them into the U.S. financial system.
SAB 121 is a controversial SEC rule that requires companies that hold customers' digital assets to list them as liabilities. Experts say the requirement discourages institutional participation.
