Cardano and Ethereum co-founder Charles Hoskinson has expressed doubts about the crypto policies of former President Donald Trump and Vice President Kamala Harris in recent interviews with mainstream media.
In an interview with the Financial Times, Hoskinson expressed concerns that neither Trump nor Harris have shown a clear path forward for the crypto sector in the US, despite the former’s more progressive stance on the industry.
He told the newspaper:
“I don’t see that level of quality and sophistication in the discourse.”
Hoskinson criticized Harris, suggesting her approach would likely perpetuate the Biden administration’s policies, which he described as harmful to the industry.
At the same time, he expressed doubts about Trump’s ability to assemble a team capable of moving the crypto industry forward, citing the former president’s history of high staff turnover.
He also noted a generational divide within the Democratic Party over digital assets, compared to Republicans, who seem more open to the idea of fair regulation, citing Sen. Cynthia Lummis and her efforts on behalf of the industry.
Hoskinson noted that while senior leaders like Elizabeth Warren and President Joe Biden have shown reluctance toward the industry, younger Democrats like Ro Khanna are more open to discussing fair regulatory measures. He predicts that over time, the party’s stance on cryptocurrency regulation will likely evolve.
Trump’s Pro-Crypto Stance and Partisan Risks
Meanwhile, in an interview with CNBC, Hoskinson was optimistic about Trump’s stance on cryptocurrency despite his reservations. He said that Trump and his family’s involvement in DeFi projects and his appearances at cryptocurrency conferences positioned him as the “most pro-crypto” candidate.
He said:
“Trump is certainly the frontrunner from a cryptocurrency perspective.”
Hoskinson also noted that while Trump’s approach may appear opportunistic, such behavior is common in American politics and “every politician has some degree of opportunism.” He added that a broad coalition is needed to implement lasting change for the industry.
Hoskinson also warned that Trump’s new DeFi platform, World Liberty Financial, could become a partisan issue. He said the former president’s past actions have often drawn strong reactions from his political opponents, and this move may be no different.
He said:
“Trump is launching a DeFi app, and that scares me as an industry because everything Trump does is hated by the left with such a passion.”
He stressed that the move risks politicizing an otherwise bipartisan space, adding that Democrats could retaliate by using government institutions such as the Justice Department or the Securities and Exchange Commission (SEC) to obstruct the project.
He expressed concerns that such regulatory measures could have broader implications for the crypto industry as a whole, potentially pushing more of it to relocate overseas.
Regulatory clarity
In a broader context, Hoskinson stressed that global adoption of cryptocurrencies is already progressing and will continue regardless of U.S. involvement. He stressed the importance of clear regulation and a favorable policy environment to foster the industry within U.S. borders.
He said that if the US establishes a clear regulatory regime for the industry, it could potentially add “$5 trillion to $10 trillion” of value to its economy over the next decade by adopting decentralized technologies and creating fairer systems.
He highlighted progressive regulatory developments in regions such as Singapore, the Middle East and Europe as key examples of how other nations are moving forward with cryptocurrency-friendly policies.
Hoskinson expressed hope that the United States would return to the race and play a leading role, but he remains uncertain whether the political landscape will align with the global movement toward decentralization.
