Cardano Founder Charles Hoskinson Accuses Joe Biden Administration Of ''Coordinated Effort To Kill Crypto''

Cardano Founder Charles Hoskinson Accuses Joe Biden Administration Of ”Coordinated Effort To Kill Crypto”

Updated: 10 May 2024

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

“If you vote for Joe Biden as a cryptocurrency holder, please understand that the intent of this administration is to destroy the American cryptocurrency industry,” Hoskinson said in a video posted on X on May 8. “A vote for Biden is a vote against the American cryptocurrency industry.”

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

— Charles Hoskinson (@IOHK_Charles) May 8, 2024

Charles Hoskinson Says White House Is Obstructing Legislative Process

The Cardano creator has accused the White House of obstructing the legislative process after saying it will veto a resolution mandating the US Securities and Exchange Commission (SEC) to change an accounting framework on digital asset custody.

The bill’s proponents said the SEC’s framework hindered innovation in the US digital asset space. The White House says passing this resolution will affect the ability of the SEC to protect investors.

Hoskinson says this latest move is part of a “coordinated effort to kill crypto” by the White House, noting that jurisdictions like Dubai, Singapore, and Switzerland are rolling out the red carpet to welcome crypto businesses

Trump Woos The Crypto Community

As Biden irks the crypto community, his rival in the upcoming elections, Donald Trump, has been wooing crypto voters.

While speaking at an event for Trump non-fungible token (NFT) holders earlier this week, the former US President accused Biden of being against the crypto industry. He said that, unlike Biden, he was not opposed to cryptocurrencies.

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

i asked donald trump how he’s going to keep crypto businesses in america.

sounds bullish 🇺🇸 pic.twitter.com/rvuztPmQ8P

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

Trump also said he would make it possible for supporters to donate to his campaign using cryptocurrencies. Hoskinson believes Trump is a better choice for president, saying that while his previous administration had shortcomings, it mostly ignored the crypto industry.