Charles Hoskinson, co-founder of Input Output Global and the Cardano blockchain ecosystem, has openly disagreed with Ethereum co-founder Vitalik Buterin’s recent statement advising against choosing political allegiances based solely on a candidate’s stance on cryptocurrency.
In a post on X, Hoskinson argued that the crypto community should adopt a single-issue voting strategy focused on supporting pro-crypto candidates. He believes that politicians will think twice before targeting the crypto industry if they understand the potential electoral consequences.
Crypto a decisive voting issue
Hoskinson argued that voting for current President Joe Biden would negatively impact the American crypto industry. He believes that making crypto a decisive voting issue will force politicians to moderate their stance and avoid actions that could harm the industry.
Buterin recently expressed his concerns around single-issue crypto voting, cautioning voters against backing political candidates who profess support for cryptocurrencies without supporting the technology’s underlying principles and objectives.
Buterin’s blog post stresses that the crypto movement’s original values, inspired by the cypherpunk ethos, focus on promoting overall freedom and decentralization, beyond just financial freedom.
He also highlights the potential dangers of aligning with authoritarian regimes that support crypto for their own benefit while suppressing individual freedoms.
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Buterin warns that focusing narrowly on “pro-crypto” candidates may lead to supporting politicians whose broader values might not align with those of the crypto community. He stressed the importance of considering a politician’s overall vision for technology, privacy and internationalism rather than just their stance on cryptocurrency.
Crypto’s political moment
The 2024 US presidential election may feel the impact of the merging cryptocurrency and political landscapes, as candidates’ crypto-related policies and views on blockchain innovation have become a key factor in some voters’ decisions.
Results from a November 2023 Harris Poll conducted for Grayscale show that almost half of American voters (47%) plan to include cryptocurrency in their investment portfolio in the future.
This year’s election campaign marks the first time leading presidential candidates have actively discussed its impact — a notable departure from previous campaigns where it played a smaller role, such as Andrew Yang’s.
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