Hoskinson Accuses Wyoming Stablecoin Team of Bias Toward Ethereum

• Charles Hoskinson expresses disappointment over Cardano’s Wyoming stablecoin exclusion.
• Hoskinson accused the Commission of being biased.
• The Cardano founder believes the Commission made sentimental decisions.

Cardano founder Charles Hoskinson voiced disappointment over Wyoming’s recent decision to exclude Cardano and many other blockchain solutions from its planned stablecoin project. In a recent podcast, Hoskinson faulted the government’s screening exercise, alleging those in charge did not follow the due process, but decided arbitrarily based on sentimental preferences.

Wyoming Stablecoin https://t.co/WRLfLaVCCa

— Charles Hoskinson (@IOHK_Charles)
November 24, 2024

The Wyoming Stable Token Commission had published a list of candidate blockchains for its procurement process, including Solana, Sui, Ethereum (and its layer-2 networks like Polygon, Arbitrum, Base, and Optimism), Avalanche, and Stellar. Cardano’s absence raised eyebrows, given Hoskinson’s close ties to the state and Cardano’s proven capacity for such projects.

Allegations of Bias and Lack of Transparency

Cardano’s absence from the list was conspicuous, considering Hoskinson’s close ties with the state and the blockchain’s expected capacity to handle such projects. Following Cardano’s omission, Hoskinson accused the Commission of prioritizing sentimental preferences over objectivity. He thinks the recent outcome has dampened the enthusiasm surrounding Wyoming’s stablecoin Proof-of-Concept, which the state’s legislature passed about two years ago.

Read also: Cardano Snubbed for Wyoming Stablecoin Project: Hoskinson Hints at Legal Action

He noted that the Executive Director (ED), linked to the Ethereum ecosystem and Polygon, advocated for issuing the stablecoin on Ethereum, undermining the legislature’s original intent for a multi-chain framework.

Hoskinson also criticized the Commission for failing to publish qualification criteria, describing its approach as arbitrary. He claimed that the process lacked transparency, calling it “illegal and unconstitutional.”

Impact on Wyoming’s Stablecoin Initiative

The exclusion of Cardano has, according to Hoskinson, dampened enthusiasm around Wyoming’s stablecoin Proof-of-Concept. He expressed disappointment, noting that several blockchain experts, including himself, had contributed to the project but were sidelined during the decision-making process.

Hoskinson referred to the Commission’s actions as a “black eye” for Wyoming’s stablecoin efforts, arguing that the state’s potential to lead in crypto innovation was undermined by the controversy.

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