On June 23, The Cardano’s founder(ADA) – Hoskinson addressed some of the major concerns in front of the United States Congress.
The company has added over 3.4 million new wallets, along with 50,000 new addresses just in last month.
Hoskinson continued explaining this further by saying that when we talk about the crypto industry, meta-data is being stored inside the transaction data, and there is no need to worry about priority regulations.
Hoskinson’s Take On Crypto
As the cryptocurrency industry is making its way into the wide world of decentralization. It is clear that the world will be pushed forward by entrepreneurs, technologists, and engineers.
On June 23, The Cardano’s founder(ADA) recently addressed some of the major concerns in front of the United States Congress.
The main issues discussed were the scalability of the regulations, the workforce required behind them, and the way it is going to be regulated.
The Regulations and Policies
Charles Hoskinson replied with the statement:
“One of the powers of our industry is the fact that regulation can become algorithmic. So you don’t have to think, ‘which person is going to sit down and look at this big pile?’ Think of the IRS and tax returns. We could quadruple the size of the IRS, but we still couldn’t audit every American – it’s just impossible.”
Hoskinson continued explaining this further by saying that when we talk about the crypto industry, meta-data is being stored inside the transaction-data, and that there is no need to worry about priority regulations.
The Rule-makers and the policymakers can just take a step back and clarify the things that are the most important to them. After setting up the priorities, they’ll just decide that these are the things they care about, and no matter what, they will not settle on those particular things.
Cardano is growing at a very strong pace. This statement is about the fact that the company has added over 3.4 million new wallets, along with 50,000 new addresses, just in last month.
Source: https://www.thecoinrepublic.com/2022/06/25/cardano-founder-hoskinson-on-regulating-us-cryptos/