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

• Wyoming excludes Cardano and its Midnight project from its state-backed stablecoin development shortlist.
• Charles Hoskinson criticizes the process as opaque and potentially influenced by Ethereum ties.
• Hoskinson hints at possible legal action and warns of political consequences.

Cardano founder Charles Hoskinson has responded to Wyoming’s decision to exclude Cardano and its privacy-focused Midnight project from the shortlist of blockchains for the state’s official stablecoin development.

In a recent announcement , the Wyoming Stable Token Commission announced its selection of blockchains for the state’s inaugural stablecoin project. The list includes Solana, Avalanche, Sui, Stellar, and Ethereum (along with layer-2 solutions like Polygon, Arbitrum, Base, and Optimism). 

Cardano was notably absent from the list, which has raised eyebrows, particularly given Wyoming’s close ties to Hoskinson and his blockchain initiatives. The exclusion of Cardano has drawn sharp criticism from Hoskinson, who accused the selection process of lacking transparency and fairness.

Hoskinson Slams Decision, Hints at Legal Action

In response to the announcement, Hoskinson described the process as “opaque,” highlighting that no vendors were required to build proofs of concept to demonstrate functionality. He further alleged that the decision-making was influenced by an unelected official with ties to the Ethereum ecosystem, a move he deemed “deeply disturbing.”

The Cardano founder hinted at potential litigation, suggesting that the process might have violated procedural fairness. “We are still evaluating and may consider litigation,” he said. He also warned of possible political consequences, stating, “We don’t forget these things. Especially during elections.”

Wyoming Stablecoin Initiative 

Wyoming, the home state of Cardano founder Charles Hoskinson, has long been at the forefront of blockchain innovation. It is known for its crypto-friendly regulations and efforts to attract key industry players. 

The state has been actively working on its own U.S. dollar-backed stablecoin, the Wyoming Stable Token, which is planned for a launch in early 2025. The Wyoming Stable Token Commission has been tasked with overseeing this initiative and has been evaluating various blockchain platforms to underpin the stablecoin’s infrastructure.

Despite Wyoming’s pro-crypto stance, Cardano’s exclusion from the shortlist has raised questions about the fairness and objectivity of the selection process.