Andrew Yang, the 44 years old US Presidential candidate running as a Democrat has called for clear guidelines and regulation for cryptocurrencies. In the Presidential elections of 2020, Andrew is the only entrepreneur running alongside business tycoon and current President, Donald Trump in the race.
In his manifesto, Yang laid out the background of the regulations and where the current regulators have failed to adopt the revolutionary concept.
“Cryptocurrencies and digital assets have quickly grown to represent a large amount of value and economic activity. This quick growth, however, has outstripped the government’s response. A national framework for regulating these assets has failed to emerge, with several federal agencies claiming conflicting jurisdictions.”
Andrew Yang is Sure of a Crypto-Revolution
Yang is a strong believer in the new crypto-based digital economy. He not only calls for laying out proper regulations but also believes that it is the responsibility of the Government to spread this future technology as quickly as possible.
“We should let investors, companies, and individuals know what the landscape and treatment will be moving forward to support innovation and development. The blockchain has vast potential.”
Andrew Yang is an active Twitter user who engages with the public and runs most of his campaign online. Jack Dorsey, another staunch supporter of Bitcoin, had earlier donated to support Yang’s cause; Yang expressed his note of thanks on Twitter itself,
“Thank you @jack for the support! I use at least one of your products every day.”
Yang has laid out the steps he will be taking after his nomination as a President in the crypto-sphere. The new laws and guidelines under Yang are expected to define, classify and draw guidelines for Government agencies to regulate the cryptocurrency space completely. Clearing out tax implications, and setting the security tokens and blockchain tokens, in general, will be the first fundamental steps that Yang intents to make.
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