The crypto community looks like it has a dog in the 2020 presidential election race as per this week’s events. Democratic Party presidential nominee Andrew Yang seems like the man Crypto enthusiasts should be backing as the 2020 election showdown looms.
Yang, an entrepreneur who is seeking the Democratic Party nomination to challenge president Trump, recently unveiled digital asset platform and said that he would like to see greater regulatory framework for the crypto community and its underlying blockchain technology; which he believes could spur greater innovation.
“I believe that the blockchain needs to be a big part of our future”, he told a packed room at the consensus conference in New York, where he gave a key note address on Wednesday.
“If I’m in the White House, oh boy are we going to have some fun in terms of the crypto currency community.” he said to an excited crowd.
The crypto community has been following Yang closely since he published a bare framework for regulation, in which he calls for clear token definitions and tax rules. He also advocated for clarity over which agencies have regulatory capabilities, among other things.
“We just need to provide rules of the road,” Yang said at a separate interview in the conference grounds. “We need to figure out which agency is going to be interacting with individual currencies. It would be unfortunate if every time a new currency comes out we then have to decide which framework applies,” he added. He also added that the consumer protection aspect of his proposal could loosely be based on existing security laws.
Though he does directly hold any crypto-currencies, he invests in at least one vehicle that has some holdings. Yang has made a name for himself for his popular proposal on universal basic income being a guaranteed $1,000 a month for those 18 and over. This to him will go a long way in cushioning the blow of job losses as a result of new and upcoming technologies.
Yang’s online following has ballooned the last few months since he announced his interest in the democratic nomination. His following has also been boosted by his rounds all over the country, and his outreach to the crypto community. The perpetual media appearances have also helped his name and face get out there.
Yang will face an uphill task if he is to secure the Democratic Party nomination. He will have to navigate through a sea of contenders, all desperate to clinch the blue ticket and set up a date with the incumbent in the red corner. Yang will need all the support he can get, and just in case you are wondering, his campaign does accept crypto donations.
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