Charles Hoskinson aimed to bring a better reputation for this crypto industry against the threat.
This crypto industry completed around 13 years in this world. The origin of this crypto industry was started 13 years ago with the origin of Bitcoin and after that many crypto assets entered this world. Even at present time, the Crypto industry is in its initial phase of development because right now no precise regulations and frameworks are available, which can bring a better understanding for the new companies or newcomers in this industry to work.
On 26 January, Cardano founder, Charles Hoskinson, asked the community whether he will get support if he will start a Blockchain Political action committee.
The majority of the people tweeted that they will support it in every way ( financially and socially).
Adelle Nazarian, CEO of American Blockchain Pac, responded to the future initiative of Cardano founder and suggested working under the collaboration with the American Blockchain PAC.
Why Charles wants To setup PAC?
Charles Hoskinson is the founder of the second biggest smart contract blockchain Network, Cardano. He is also CEO of Input Output Hong Kong Global (IOHK). He is also co-founder of Ethereum blockchain but he is no longer in the Ethereum project because his thoughts and planning were not in favor of Ethereum co-founder Vitalik Butterin.
As we know, there are no better rules or we can say highly precise rules, which can provide better clarity on the regulation of the crypto industry. Even in the present time, US regulators are debating whether a particular coin is security or not. For example Ripple vs SEC lawsuit.
So here Blockchain PAC team will work to collect support for the crypto industry and will provide a better favorable stand for this crypto industry against bad laws and also will help to bring better legislation to this industry.
Read also: Binance suspends account of many Nigerian crypto users