Vitalik Buterin, the co-founder of Ethereum (ETH), and Charles Hoskinson, the founder of Cardano (ADA), recently shared their perspectives on politicians who claim to be “pro-crypto.” During a discussion, Hoskinson challenged Buterin’s comments made in a blog post titled “Against Choosing Your Political Allegiances Based on Who is ‘Pro-Crypto’.”
In his post, Buterin expressed his concerns about the increasing politicization of the cryptocurrency industry. He mentioned that over the past two years, crypto has become a significant topic in politics, with many jurisdictions considering regulations for crypto and blockchain. Buterin highlighted the creation of the Markets in Crypto Assets (MiCA) regulation in the European Union, efforts to regulate stablecoins in the United Kingdom, and the complex mix of legislation and attempted regulation by the SEC in the United States.
While Buterin acknowledged that some of these bills are reasonable, he also mentioned fears that governments might resort to extreme measures, such as treating all currencies as securities or banning self-hosted wallets. As a result, there is a growing push within the crypto space to become politically active and support political parties and candidates based on their stance towards crypto.
However, Buterin cautioned against a reductionist approach that solely focuses on “cryptopolitics” when supporting political candidates. He emphasized that politics is a complex game with various levers that can be influenced by one’s words and actions.
In response to Buterin’s comments, Hoskinson argued that political support is crucial in order to achieve favorable policies for cryptocurrencies, especially in the face of adverse regulatory environments. He stated that his primary goal has always been to keep the government completely out of cryptocurrencies. However, when that is not possible, the choice is clear: support politicians who are not in favor of central bank digital currencies (CBDCs), lawsuits against non-custodial wallets, arrests of cryptocurrency leaders, labeling everyone as securities, and intimidating and harassing exchanges.
Hoskinson described politics as a game of cause and effect. He believes that if politicians understand that targeting and harassing the crypto industry will lead to lost elections, they will refrain from doing so. He urged people to vote for pro-crypto candidates and highlighted the impact of their votes on the future of the American cryptocurrency industry.
In conclusion, both Buterin and Hoskinson shared their perspectives on the intersection of politics and the crypto industry. While Buterin expressed concerns about the growing politicization, Hoskinson emphasized the importance of supporting politicians who are favorable towards cryptocurrencies.