Bitcoin-friendly Presidential Candidate Yang makes crypto a hot topic

19 Apr, 2019 | Updated: 19 Apr, 2019
by Jelmer van der Dussen
Adoption
Bitcoin-friendly Presidential Candidate Yang makes crypto a hot topic

John McAfee is not the only Presidential Candidate publicly discussing the topic of cryptocurrencies in his campaign. Andrew Yang, a 2020 Presidential Candidate who in contrast to McAfee actually wants to be elected, has included 'digital asset regulation' in his policy.

Yang is a Bitcoin-friendly Presidential Candidate who accepts Bitcoin and ERC20-tokens as campaign donations, and now he has called for clearer regulations for digital assets. According to Yang, the quick growth of the cryptocurrency space has 'outstripped the government's response'.

'A national framework for regulating these assets has failed to emerge, with several federal agencies claiming conflicting jurisdictions', Yang says on his campain page. 'At the same time, states have come up with a patchwork of varying regulations that make it difficult for the US cryptocurrency markets to compete with those in other jurisdictions, especially China and Europe.'

Yang continues: 'Currently, different departments of the federal government consider digital assets as property, commodities, or securities. Some states have onerous regulations in the space, such as NY’s BitLicense. Navigating this has had a chilling effect on the US digital asset market. It’s time for the federal government to create clear guidelines as to how cryptocurrencies/digital asset markets will be treated and regulated so that investment can proceed with all relevant information.'

Yang's goal is to have clearer guidelines in the world of cryptocurrencies so that 'businesses and individuals can invest and innovate in the area without fear of a regulatory shift'.

Yang is a Presidential Candidate for the Democrats who wants to introduce the Universal Basic Income. Yang wants to give every American adult over the age of 18 $1000 a month, no strings attached, paid for by the new tax on the companies 'benefiting most from automation'.

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