Cardano Would Focus On Doing Regulated Business, Says Charles Hoskinson

In brief 

• Cardano founder wants more transparency with regulations
• He shared that they would engage in policy conversations with legislators.
• The Cardano ecosystem only has a desire for regulated business.

In an effort to create a more regulating atmosphere for cryptocurrencies in America, the CEO of Input Output Hong Kong IOHK and Cardano (ADA) founder has spent this week meeting with policymakers.

Cardano founder Charles Hoskinson recently expressed his opinions about the state of affairs in Washington DC, through YouTube on May 27. Charles is a well-known advocate of more government transparency regarding regulations and how policymakers could use ADA to aid wider acceptance of cryptocurrencies among consumers across America and even around the world. 

In a recent interview, Hoskinson said he would continue to engage with organizations such as the DCC and other blockchain associations. He also plans on working closely alongside others in order to identify opportunities for collaboration

In addition, he shared that they would engage in policy conversations with legislators and improve legislation by providing feedback on how the wording may be made more effective.

Charles explained further that the Cardano ecosystem has a strong desire to do business in regulated ways, whether it be through security tokens or legacy financial institutions like banks that want their charter maintained.

The Cardano CEO added that these are use cases that have already been created, and they’re not just hypotheticals.

Optimistic Future for Cardano

Overall, Hoskinson saw positives from his trip to Washington and dealing with lawmakers; he says there is still more work needed but remains optimistic about the progress being made.

“We will continue as a community to ever get more decentralized and resilient and diverse and we as a community will continue to innovate many of the things we are doing in Cardano are not just about scalability, performance and quality of code but have a lot to do with the social elements of a cryptocurrency.” 

With a rapidly expanding ecosystem, the developer of ADA said that he hopes to continue working and see his platform evolve with further releases (the June release of the Vasil Hard Fork is around the corner).

The average blockchain load on Cardano is still high in May, at 64% as a result of the network’s growth.