US Presidential candidate Andrew Yang calls for clear regulations on Cryptocurrencies

2020 Presidential candidate Andrew Yang called for clear regulations for Cryptocurrencies and shared his support for the underlying technology.

In a recent interview with Bloomberg, Yang discussed the need for clear cut regulations on Cryptocurrencies. He rightfully called the current state of the regulatory framework in the US as a ” hodgepodge of state-by-state treatment “.

He said:

“We need to have a uniform set of rules and regulations around Cryptocurrency use nationwide because right now we are stuck with this hodgepodge of state-by-state treatment and its bad for everybody”

Many entrepreneurs have moved out of the US to start Crypto firms due to lack of clarity in terms of regulations and the cumbersome process with various agencies if at all they have a utility token which might be deemed a security. Yang highlights the point that the US needs clear cut regulations to maintain competitiveness with other countries, he said:

“My priority is just clear and transparent rules so that everyone knows where they can head in the future and that we can maintain competitiveness”

“The underlying technology of Cryptocurrencies is very very high potential and we should be investing in it.”

Yang has talked about Blockchain and Cryptocurrencies several times in the past, he has called New York’s Bitliscence “onerous” and has also discussed the possibility of using Blockchain in voting systems. He was also one of the few candidates that accepted Cryptocurrencies like Bitcoin and Ethereum for his campaign donations.

Crypto Community’s favorite candidate

Yang is a favorite among a lot of Crypto enthusiasts, whether you agree with him on other political issues or not he is the only candidate that has clarity over Cryptocurrencies and its underlying technology. He is also the only candidate who has put forth policy proposals for the Crypto industry, so whether he gets elected or not he is definitely bringing these discussions into the mainstream.

While some people think of his Universal Basic Income platform as unrealistic, he has definitely increased awareness about important topics like automation, privacy, mental health, and taxation.

To know more about his campaign visit www.yang2020.com.

Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity

Did you like the news you just read? Please leave a feedback to help us serve you better

Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.