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Cardano Founder Charles Hoskinson has shared details of a week-long trip to Washington D.C, where he met with US lawmakers to discuss crypto-related policies. In a Youtube video, Hoskinson related his conversations which he says are another step towards changing how regulatory entities view the crypto industry.
Crypto Policies in Need of Major Work
Charles Hoskinson has reportedly spent the past few days mulling over the best course for regulation.
In fairness, Hoskinson has always pushed clarity in government interactions with cryptocurrency. At Cardano’s helm, he has sought to use the network to promote pro-crypto sentiment among legislators.
According to Hoskinson, his time in Washington revealed that virtual currencies need a lot of attention in terms of regulation. “A lot more shoe polish is required,” he said in the video. However, he still believes a proper regulatory framework is an attainable goal.
Over the past few months, several entities have begun clamoring for outlined strategies to police crypto operations. Of late, various incidents have brought this need into focus. However, as Hoskinson says, the crypto space still has a long way to go.
Cardano is Intent on Conducting Regulated Business
Fortunately, the Cardano founder seems prepared for the waiting work, as he shared his intentions for further contribution. Hoskinson plans to bring bodies like the blockchain association and the DCC onboard. As chances to work with other organizations appear, the IOG CEO will be sure to leverage them.
Cardano and its collaborators will discuss policy with lawmakers. When presented with them, they will review draft bills and similar documents and share their opinions on potential improvements.
The Cardano ecosystem is going to be engaging,” said Hoskinson. “And has a desire to do regulated business whether it be a security token offering, whether it be regulated, or whether it be legacy financial institutions like banks adopting the protocol.”
According to him, the Cardano community will most possibly grow even “more decentralized and resilient and diverse.” Hoskinson assured viewers of continued innovation beyond “scalability, performance and the quality of code.” The platform’s goals now extend beyond these things as the team s also just as intent on the “social” qualities of the Cardano token.
Hoskinson also stated that Cardano would continue to operate beneath existing regulations despite the apparent failings. The blockchain platform will work with the relevant institutions to carry out regulated business.