Charles Hoskinson’s speech on probability of US govt. banning Bitcoin, Cardano

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IOHK CEO Charles Hoskinson weighed in on a variety of subjects during his most recent ask-me-anything interview, which he live-streamed from Colorado, USA. During the AMA, Hoskinson seemed to defend both Bitcoin and ADA in response to a concern about the two cryptos’ regulatory futures.

When a YouTube listener asked what would happen to Cardano if the US government were to block Bitcoin, Hoskinson immediately discounted the idea. According to the president, Bitcoin will never be prohibited in the United States because the crypto-asset is excluded from such strict regulations.

“That ship has sailed. Bitcoin is not getting banned.”

Hoskinson’s stance is held by other crypto-bulls who claim Bitcoin would not be banned. For example, former Acting Director of the United States Office of the Comptroller of the Currency (OCC) Brian Brooks reported at the end of last year that regulators are “very focused” on “not killing” Bitcoin.

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Bridgewater Associates Co-Founder and Chief Investment Officer Ray Dalio, on the other hand, has had opposing views on the subject. According to him, there is a “fair chance” that the US government would “bar Bitcoin” in the same manner that gold was outlawed in the 1930s. In reality, Dalio cited the case of Indian regulators who are allegedly planning to outright ban the crypto-asset.

Hoskinson, like most other Bitcoin backers, may have discussed how the crypto-asset has the ability to hedge inflation. This is one of the reasons why, according to French economist Marion Laboure, Bitcoin is now “too essential to ignore.”

Both central banks and policymakers recognise that “Bitcoin and other cryptocurrencies are here to stay,” according to Laboure, who believes governments will “start regulating” crypto-assets “late this year or early next year.”

Future generations “will usher in mass adoption” as the global crypto-population surpasses 100 million users. According to a Deutsche Bank study, millennials are gradually replacing cash and bank cards with cryptocurrencies.

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Meanwhile, Hoskinson previously stated that Cardano is currently “on the verge” of agreements and projects by public-private collaborations in some African countries, paving the way for “millions of users” to join the Cardano ecosystem this year.

 

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