The upcoming American elections are expected to bring in vast changes to the country’s ecosystem, be it social, economic or political. These directives have been driven by the people running for the highest office in the county, with Andrew Yang being one of the major contenders.
The Democratic Presidential candidate recently spoke about cryptocurrencies and regulations with Bloomberg, sparking an interest in the digital assets community.
A majority of the cryptocurrency community has spoken multiple times about how there are unreliable sources for regulations in the country. Andrew Yang’s comments came as a fresh take to those interested because politicians are not usually well versed in the subject.
Yang was asked if there was a way to make regulations better that would allow people to utilize cryptocurrencies properly. According to the Democratic runner, America needs to have a uniform set of rules and regulations nationwide. He added:
“We really need to have a solid system that addresses the positives as well as the negatives of the cryptocurrency industry. Right now all we have is a hotchpotch of state by state rules which are bad for innovators in the space.”
Andrew Yang’s supporters, the ‘Yang Gang‘ have been a voracious bunch, creating slogans and social media movements to support their man. Yang’s main USP has been his ability to grab nuances and understand upcoming technologies like blockchain technology. The candidate himself is from a technological background.
Yang claimed that there has to be a clear and transparent framework for cryptocurrency officials to function in the American mainland. He added that the underlying technology of cryptocurrencies [blockchain technology] held the massive potential to change the world.
During the interview, Yang was asked if he supported people’s shift from fiat to crypto. To this, he candidly replied that people will always find ways to carry out these transactions and that there was no way to impede them. The entrepreneur turned politician brought in a refreshing change to the American political system with his comment.
The usual rhetoric given by earlier politicians about cryptocurrency has always been negative and tasteless. Yang is one of the first major political figures to throw his support behind the virtual assets industry, provided they are under responsible watchdogs.
Yang is also a supporter of universal basic income, a step to make sure that citizens earn more money. One of his biggest campaign slogans has been to give $1000 to all American citizens, irrespective of any other factor.