- Cardano’s exclusion from Wyoming's blockchain initiative highlights flaws in the regulatory process and damages state credibility.
- Hoskinson calls for a neutral "Crypto-Czar" to unite the industry and push for fair crypto policies across the U.S.
- "Operation Baseline" will survey the U.S. blockchain to identify regulatory issues and improve the crypto landscape.
Cardano co-founder Charles Hoskinson has expressed his annoyance on X over the company's exclusion from a blockchain project in Wyoming. Hoskinson said the process's lack of a formal request for proposals (RFP) was a fault.
Instead, a single bureaucrat unilaterally decided what Cardano could and could not do, excluding a protocol worth nearly $40 billion. This decision, Hoskinson argues, undermines the efforts that IOHK and others fought for in Wyoming, setting back the state's blockchain initiatives and tarnishing its credibility.
A Broken Process: Wyoming’s Blockchain Setback
The exclusion of Cardano highlights deeper issues with the blockchain ecosystem's regulatory landscape. Hoskinson emphasizes that RFPs typically allow vendors to showcase their capabilities and demonstrate their solutions through proof of concept.
However, Wyoming’s approach lacked transparency and accountability. Moreover, the absence of a formal process leaves major blockchain protocols like Cardano sidelined. This not only hinders innovation but also impacts the reputation of Wyoming as a blockchain-friendly state.
A Call for a Neutral Crypto-Czar
In light of the growing concerns about regulatory oversight, Hoskinson also addressed the idea of appointing a "Crypto-Czar" in the White House. He believes that the role must be filled by someone who can work with all blockchain protocols and understand the unique attributes of crypto.
Hoskinson proposed Coinbase CEO Brian Armstrong as an ideal candidate, citing his leadership during turbulent regulatory periods. Armstrong’s ability to build broad coalitions could be key to uniting the industry and pushing for meaningful legislation.
Furthermore, Hoskinson himself is dedicated to advancing the legislative effort to improve blockchain policies. He is currently focusing on U.S. lawmakers to remove regulatory abuses and create a welcoming environment for crypto innovation.
Through his "Operation Baseline," launching in January, Hoskinson plans to survey the U.S. cryptocurrency industry to identify opportunities for improvement. He believes this survey will help guide the Crypto-Czar’s role and influence policymakers toward better, more effective laws for blockchain and cryptocurrency businesses.
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