Cardano’s Charles Hoskinson nominates Coinbase’s Brian Armstrong for Donald Trump’s crypto czar Cardano’s Charles Hoskinson nominates Coinbase’s Brian Armstrong for Donald Trump’s crypto czar
Hoskinson cites Armstrong's leadership at Coinbase as key to overcoming regulatory hurdles and promoting industry unity.
2 min read
Updated: Nov. 21, 2024 at 11:56 am UTC
TechCrunch / CC BY 2.0 / Wikimedia. Remixed by CryptoSlate
Cardano founder Charles Hoskinson has suggested Coinbase CEO Brian Armstrong as a top candidate for the proposed crypto policy role in Donald Trump’s second administration.
In a Nov. 20 post on X, Hoskinson outlined key qualifications for a “Crypto-Czar,” emphasizing neutrality, collaboration across protocols, and a firm grasp of crypto’s unique value. He also criticized the current administration’s regulatory missteps in the sector.
Hoskinson argued that Armstrong’s leadership at Coinbase makes him an ideal fit. Under Armstrong’s guidance, Coinbase became the largest crypto exchange in the US and one of the first publicly traded crypto companies.
Hoskinson highlighted Armstrong’s resilience in navigating the government’s regulatory challenges and pointed out his ability to unite the industry and spearhead legislative progress. He stated:
“Coinbase has grown into one of the pillars of crypto and has had to endure the unfair tactics of a government committed to regulation through enforcement. I know [Armstrong] could build a broad tent coalition to bring the industry together and help us get the government rallied behind real action including passing new laws.”
While Hoskinson praised Armstrong’s credentials, crypto community members suggested other candidates, such as pro-XRP attorney John Deaton, for the role.
Driving crypto legislation
Meanwhile, Hoskinson also detailed his plans to support legislative efforts for the crypto industry.
Drawing from his experience in Wyoming, where he contributed to passing 31 crypto-focused laws, he aims to work closely with Congress to address federal overreach and establish regulations that attract traditional industries to blockchain.
In January, Hoskinson’s company Input Output‘s Policy initiative will launch “Operation Baseline,” a project to survey the US crypto landscape, identify inefficiencies, and propose actionable policies. He plans to share these findings with lawmakers and the new Crypto-Czar to ensure clear objectives for regulatory reforms.
Hoskinson stressed that collaboration within the industry is crucial to making the US the leading hub for crypto and blockchain innovation. He stated:
“The president’s goal is to make America the best place in the world to start and run a cryptocurrency and blockchain business. We as an industry have to come together to make that happen.”
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Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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Cardano is a decentralized public blockchain and cryptocurrency project and is fully open source.
Coinbase
Coinbase is a digital currency exchange and wallet service that allows individuals to buy, sell, and store digital currencies, such as Bitcoin, Ethereum, and Litecoin.
Input Output
Input Output Hong Kong (IOHK) is a research and development company committed to using the peer-to-peer innovations of blockchain to build accessible financial services for all.
Charles Hoskinson, based in Colorado, stands out as a prominent figure in the blockchain and cryptocurrency sphere.
Brian Armstrong, co-founder and CEO of Coinbase, stands at the forefront of the digital currency revolution.
John Deaton is the founder and host of CryptoLaw which was launched in 2021 to provide digital asset holders with information, news, and analysis on key U.S.
A businessman, politician, and media personality, Donald John Trump served as the 45th president of the United States from 2017 to 2021.