Hoskinson Counters Buterin Calls for Crypto-Focused Political Support

Charles Hoskinson, the co-founder of Input Output Global and the Cardano blockchain network has recently come out in the open to oppose the recent position of Ethereum co-founder, Vitalik Buterin on pro-crypto voting. 

This divide could have implications for the future of crypto regulation in the United States as the 2024 U.S. presidential election approaches.

Hoskinson Stands up for Single-Issue Voting

Hoskinson posted to the X platform noting that the crypto community should organize around one issue, voting for politicians friendly to crypto. He opined that politicians will not go after the crypto space if they know that it will cost them votes. 

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

As stated by Hoskinson, putting crypto into the category of decisive voting issues will make politicians tone down their views and refrain from doing anything that would jeopardize the industry.

In particular, Hoskinson said that voting for Joe Biden can damage the American crypto business. He said that the focus must be put on crypto-sympathetic politicians in order to guarantee the development of the industry.

Buterin’s Caution on Narrow Political Affiliations

On the other hand of the spectrum, Ethereum co-founder Vitalik Buterin has recently discouraged people from voting for a particular party because of the candidate’s opinion on crypto. 

Buterin said that while the crypto movement emerged from the cypherpunk community, the movement should not be seen as just about financial freedom, but freedom in general.

However, he also pointed out the risk of partnering with what he defined as “totalitarian states” that adopt crypto for their agenda while limiting people’s rights. He stated that concentrating on the ”pro-crypto” individuals may result in backing the politicians who do not share the crypto community’s values. Buterin focused on the need to look at the bigger picture in terms of a politician’s vision on technology, privacy and the world.

Crypto’s Increasing Political Relevance

The fusion of the cryptocurrency and political realms will most probably influence the 2024 U. S. presidential election. According to the Harris Poll conducted by Grayscale in November 2023, 47% of American voters intend to invest in cryptocurrencies in the future. This implies that there is increasing concern among the voters on the policies regarding to the cryptocurrencies.

In a first, the world of cryptocurrency has emerged as a key campaign issue, with top contenders eagerly sharing their opinions. This is a shift from the previous campaigns where crypto seemed to be less of a focus as seen in the case of Andrew Yang. For instance, the former US President Donald Trump has been seen as supportive of Crypto which has been welcomed by the Crypto enthusiast while the incumbent President Joe Biden has shown some level of negativity towards it.

Charles Hoskinson once again made his point, and encouraged the people in the crypto sphere to vote for crypto-supporting candidates in the 2024 election. He claimed that politicians will cease the harassment of the cryptocurrency sector because people will remind them that they can vote for such actions.