Cryptocurrency and blockchain technology has caused a mini financial revolution which has seen many countries react by tightening the noose with new regulations. The United states has been the front runner of such regulations.
Cryptocurrencies could once again become the major talking point ahead of the 2020 elections with the emergence of Andre Yang. Thanks to his position regarding cryptocurrencies and blockchain technology, Yang has managed to gain support base within the crypto community.
Elon Musk CEO of Telsa appears to be on board with Yang’s candidacy for the presidency and tweeted his approval.
Yang Openly Embraced Cryptocurrency
Yang is a candidate for the Democratic Party and a firm believer in blockchain technology. Earlier in the year, he announced that his election campaign would accept donations in Bitcoin.
Speaking in a recent interview, Yang stated that the USA should have a national cryptocurrency. He also spoke about the social credit system as a critical sector that could be improved using blockchain technology.
“I think there should be a national cryptocurrency. I could even put these social credit things in the blockchain.”
Simplify Cryptocurrency Regulations
Cryptocurrency regulations have been a challenge to the country. Yang’s campaign policy statement argues that there should be a simplified set of rules.
“A national framework to regulate these [cryptographic] assets has not emerged, with several federal agencies claiming jurisdictions in conflict.
At the same time, states have created a mosaic of various regulations that make it difficult for US cryptocurrency markets. furthermore, they compete with those of other jurisdictions, especially China and Europe”.
It would interesting to see how far his campaign goes, considering that a lot of voters may not view the technology as the main burning issue for the upcoming election.