- Charles Hoskinson shared updates from Fintech Event in Washington on Twitter.
- The event was hosted by Georgetown Law school professor Chris Brummer.
- He talked about discussions around cryptocurrency regulation in regard to the upcoming election.
Input Output Global Founder, Charles Hoskinson broadcasts live from Colorado on October 12 to share updates from his trip to Washington. He starts the video by saying he was invited to Washington DC to speak at a DC fintech event by Chris Brummer, a professor at Georgetown School of Law.
Hoskinson continues about how Brummer brought in a huge slew of regulators from CFTC, SEC, and the Department of Justice among others, to come together and discuss cryptocurrency regulations.
After the event, Hoskinson went to the Swiss embassy to attend dinner with the Ambassador of Switzerland, congressman Ro Khanna, CFTC Chair Rostin Behnam, and congressman Jim Banks among other guests.
Hoskinson then proceeds to share the “regulatory reality for the cryptocurrency space” with his Twitter followers and what can be expected of 2023. To his non-American viewers, he said that there is an upcoming election in November where about a third of the Senate is up for re-election.
According to Hoskinson, the Republics, who are committed to passing some form of cryptocurrency legislation, are most likely to retake the house. If that happens, next year a bill can be passed that enables additional power for the CFTC to regulate crypto.
Hoskinson said that during his time he indulged in discussions about how to determine if a cryptocurrency is a security or commodity. “Unfortunately the bill and the FIA tend to lead this regulation from enforcement which is unlikely to be successful and changes based on judicial whims,” add the leader. Hoskinson emphasizes the need for a statutory steer to resolve that issue.
He further shares that he has been working with the University of Edinburgh to set up a lab opening on November 18 in Scotland, which will measure the level of decentralization of each cryptocurrency including Bitcoin and Cardano, in aims to navigate disclosure regimes, consumer protections and other considerations. Hoskinson continues with further discussions related to disclosure regimes adopted by cryptocurrency exchanges on the broadcast.
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