Andrew Yang Democratic Candidate Advocates For Clear Crypto Regulation

Andrew Yang is the Democratic United States presidential candidate for the upcoming 2020 elections and he is a strong advocate for better crypto regulation. Yang made multiple points on digital assets policies on his campaign website that we are looking into further in the coming altcoin news.

The article on the website explains how the government failed to launch a national framework for digital currencies. Andrew Yang claims that some of the federal agencies have conflicting jurisdictions.

Andrew Yang is an entrepreneur who donated up to $120,000 to establish Venture for America which is basically a booster for new startups. He is now running for president in 2020. His presidential campaign is based on the implementation of crypto and digital assets into the country and their regulation.

In the press release, he pointed out that digital assets should be treated differently and regulated in order to ensure investors they have all the relevant data they need:

 “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.”

On the website, you can also see that Andrew Yang pointed out that cryptocurrency and digital assets markets are developing quickly and the regulatory bodies cannot follow the fast development. As we can read in the latest cryptocurrency news, he also pointed out:

 “Create clear guidelines in the digital asset world so that businesses and individuals can invest and innovate in the area without fear of a regulatory shift.’’

Back in January, the United States Senator and well-known crypto critic Elizabeth Warren made an announcement for her presidential run in 2020. While she was speaking at the Senate Banking Committee hearing back in October 2018, she stated that ‘’the challenge is how to nurture productive aspects of crypto with protecting consumers.’’ Elizabeth Warren also made clear that the average American consumer could become a victim of a crypto scam. As for Andrew Yang, he announced his candidacy in the 2020 elections in November 2017.

At the start of this month, representatives Darren Soto (D) and Warren Davidson (R) introduced the Token Taxonomy Act. This reintroduced act will exclude cryptocurrency from being classified under security. The act also enables the introduction of regulatory certainty for regulators and business in the US blockchain industry. It also clarifies the relationship between government initiatives and regulatory rulings. As for Andrew Yang, we wish him good luck.