The world of crypto currencies and block-chain technology would have an extra incentive to keep one eye on the President Election 2020 Campaign, as one of the candidates for the position of the future President of the US, Democrat Andrew Yang , has recently raised his voice in favor of introducing uniform regulations in the field.
A State-by-State Solution Simply Doesn’t Work
According to the 45-year-old entrepreneur who has a history in a leader capacity in several start-ups in the crypto currency world between 2000 and 2009, the current situation of each state treating the matter differently only creates confusion and stops people from a broad usage of crypto currencies and pushes investors away due to the level of uncertainty.
On the Yang campaign website, the Presidential hopeful touches upon the subject and calls for a regulation that could set clear rules, warming up the digital asset market regulatory climate.
Similarly, he pointed out that several government agencies have already claimed conflicting jurisdictions introducing confusion in the sector, but also threatening to turn such asset holders into criminals due to lack of clear-cut rules or sudden changes in the interpretation of what few ambiguous regulations already exist.
In addition, Andrew Yang stands for a clear and transparent regulation to be brought in the industry on a nationwide level, to allow for a better understanding of the advantages the crypto currencies bring, to further develop the potential behind the block-chain technology, in which he firmly believes the USA should invest more to be able to maintain competitiveness on a global scale.
On Basic Income and Cryptocurrencies
The businessman and lawyer from New York goes even further by suggesting that monthly payments to every adult American, as per his Freedom Dividend basic income plan that involves government-funded payment of $1,000 , independent of one’s work status or any other factor and coming from taxes on companies that use automation of processes most, could be made in crypto currencies.
While the industry has been expanding exponentially during the last couple of years, the lack of unified regulation has kept a lid on its growth, and, being an insider for so long, the new candidate for the Presidency clearly shows that he has a deeper knowledge and understanding of block-chain technology potential and what needs to be done for that potential to be fully utilized.
His statement, viewed in the light of the ongoing campaign, is a clear signal towards the crypto community, telling them that he is one of their own , the one they can rely on to bring the necessary changes in regulation to boost investor interest and drive the ecosystem into growth, obviously asking for their votes .
Interestingly enough, from all the candidates that run for Election 2020, Andrew Yang is the only pro-crypto one , with the current administration having no clear position on that and Donald Trump strongly criticizing the industry in his tweets.