According to Charles Hoskinson, the US Financial Innovation Act can trigger a massive bull market run
In a 90-minute-long interview with Cheeky Crypto, Hoskinson shared his views on possible factors that could end the current bear market phase of the crypto domain.
Per Hoskinson, the Financial Innovation Act proposed by the US is capable of triggering a “mega bull crypto market run,” which can help the prices of leading cryptocurrencies surge past their usual price threshold.
The Financial Innovation Act Can Trigger A Mega Bull Market Run: Charles Hoskinson
In the latest video interaction with Cheeky Crypto, Cardano’s founder Charles Hoskinson said that he might have possibly identified a key element of the domain that is capable of activating a mega bull market run.
Hoskinson further states that if the US government passes the Financial Innovation Act, the said decision will play an instrumental role in triggering a massive bull run, leading several cryptocurrencies to surge high in valuation.
According to Hoskinson, if the bill gets a green signal from the US government, it would allow blue-chip investors to inject enormous amounts of capital into the crypto markets and help lower certain regulatory risks attached to investing in the digital asset domain.
“I’ve been through seven bear markets since I joined the cryptocurrency space, and this [current market] is no different. It could last 18 months, it could last two years, it could end at the end of the year, who knows? It’s any given Sunday.
(But) if America passes the Financial Innovation Act, we’d probably see a mega bull market because a huge amount of institutional money would enter and also all of the regulatory risk [with] crypto would disappear.” Hoskinson later shared
The Cardano crypto founder was all praise for the new Financial Innovation Act, which was earlier proposed in June by Republican Senator Cynthia Lummis of Wyoming and Democrat Senator Kirsten Gillibrand. The bill seeks to establish a comprehensive regulatory framework for the digital asset domain. The US government has recently bolstered efforts to draft a detailed crypto bill that actively aims at managing the crypto sector’s activities with extreme care and precision.
During a 90-minute-long interview, Hoskinson further explained how excessive regulatory scrutiny can be detrimental to the sector and may also end up suffocating the emerging crypto industry.
“(If) people like Gensler are empowered, we could see a mega bear market happen as a massive amount of litigation occurs and all these poor entrepreneurs just basically get put out of business by the heavy-handed government.” Hoskinson later asserted
Cardano’s Charles Hoskinson is notably dubbed as one of the most outspoken crypto professionals in the industry. Under his expert guidance, the Cardano ecosystem has recently deployed its highly awaited Vasil Hard Fork Upgrade aimed toward expanding the scalability of the ADA ecosystem.