Charles Hoskinson Rejects Vitalik Buterin's View on Pro-Crypto Voting Strategy

Jul 19, 2024

As the 2024 U. S presidential election draws closer, there appear several diverse opinions on how the cryptocurrency industry should be regulated. Currently, the founder of Input Output Global and the Cardano ecosystem, Charles Hoskinson, has reacted to the statements of Ethereum co-founder Vitalik Buterin and denied their correctness. 

Hoskinson, in a post on the X platform, argued for a single-issue voting strategy focused on supporting pro-crypto candidates. He believes that such a stance would compel politicians to reconsider targeting the crypto industry due to potential electoral consequences.

My first goal has always been to keep government out of crypto completely. In the places where that's not possible, the choice is pretty clear. If they want a CBDC, sue non-custodial wallets, systematically jail the leaders of Crypto, call everyone a security, and bully and… https://t.co/T7qZwPdJPA

— Charles Hoskinson (@IOHK_Charles) July 17, 2024

Moreover, Hoskinson asserted that voting for Joe Biden would negatively impact the American crypto industry. He emphasized that making cryptocurrency a key voting issue would force politicians to moderate their stance, thereby protecting the industry from adverse regulatory actions.

On the other side, Vitalik Buterin has warned the voters against voting for political candidates because they have good things to say around crypto without necessarily appreciating the principles of the technology as well as its objectives. 

Accordingly, in his article, Buterin highlighted that the core values of the crypto movement are derived from the cypherpunk ethos which advocates for general liberty and decentralization, not only in the financial sphere.

Against choosing your political allegiances based on who is "pro-crypto"https://t.co/rEbRjZYtFB

— vitalik.eth (@VitalikButerin) July 17, 2024

Buterin highlighted the risks of aligning with authoritarian regimes that support crypto for their benefit while suppressing individual freedoms. He warned that focusing narrowly on pro-crypto candidates might lead to backing politicians whose broader values do not align with those of the crypto community. Buterin emphasized the importance of considering a politician’s overall vision for technology, privacy, and internationalism, not just their stance on cryptocurrency.

However, Hoskinson suggested that voters in 2024 should prioritize crypto-friendly candidates, making it a single-issue voting point. He believes this would incentivize politicians to moderate their stance on crypto to avoid losing votes.

A recent poll by Harris Poll in November 2023 commissioned by Grayscale showed that as many as 47% of American voters are planning to include cryptocurrency investments into their investment portfolio in the following years.

For the first time in a major election, cryptocurrency is taking center stage, with leading candidates actively discussing its impact. This marks a notable shift from previous campaigns, where the topic played a minor role, such as during Andrew Yang’s run.

Jerry Christopher

An ardent admirer of NFT, crypto and metaverse, Jerry Christopher is passionate about covering such topics through his expert writing. Keeping up with the technological world, he ensures being updated about every latest activity and event surrounding the advancing space. When not writing, he is busy in exploring his above said interest areas; thus, staying close to what he truly admires.