Andrew Yang, Former Crypto Candidate Wants To Run For NYC Mayor

Andrew Yang, the former crypto candidate for US President, now wants to run for Mayor in New York City, after he decided to withdraw from the Presidential race as reported in the crypto news before.

Andrew Yang became one of the participants in the latest 2021 New York City Mayoral election and filed to become the Democratic Presidential candidate who is known for his pro-Bitcoin stance. NYC is the most important jurisdiction for the entire crypto industry which is why he is so interested in it. Yang is a well-known proponent of BTC and crypto in general and was registered as a participant in the upcoming New York City Mayoral election according to the latest campaign finance board.

The list was updated yesterday and now has about 379 participants. The 2021 New York City mayoral election will start on June 22 in 2021 and the general election is set for November 2, 2021. Yang ended his bid for the Democratic Presidential nomination back in February after the campaign that catapulted him into obscurity to the contender backed by supporters of the “yang Gang.” Mati Greenspan, crypto analyst of Quantum Economics said:

 “Conceivably, he might actually be able to do more good for the blockchain industry as Mayor of New York than as President. Many of the key cases that are playing out right now are based in New York, so the adoption of local crypto-friendly regulations there could go a long way towards setting a positive precedent.”

New York City is important for many crypto-related activities and companies so Yang is considered the best nominee that could make a change in the industry as a Mayor.  The State of New York is also the architect of the BitLicense which was been controversial since it was introduced in 2015. Citing the harsh filing regulations and expenses, a few crypto exchanges like Kraken left the state. While New York City and New York State are different legal entities, it is surely a positive thing to have an NYC mayor that is articulate of crypto and financial innovation.

In the past, Yang praised the “high potential” of crypto assets and asserted that the regulation will not impede BTC. He accepted donations in bTC and other crypto assets for his Presidential campaign. During his campaign, he stated that he will promote legislation that provides more clarity on crypto-assets by defining what tokens are and what federal agencies can do over crypto:

 “Cryptocurrencies and digital assets have quickly grown to represent a large amount of value and economic activity—outstripping government’s response.”