The prominent and advocate Andrew Yang, who also wants to participate in the 2020 United States (U.S) presidential election on the Democratic party ticket, could win all votes from the crypto community in the nation. Andrew has now officially declared his plans to create strong and effective regulations on such as , , and others, which the country presently lacks.
New Policy #22 – Digital Asset/ . Investment in and digital assets has far outpaced our regulatory frameworks. Investors need to know what their treatment will be in order to properly innovate in the U.S.— Andrew Yang (@AndrewYang)
Using his official
, Andrew underlines his target of creating a clear guideline in the world to enable businesses and individuals invest and carry out massive innovations in this sector minus any panic of the regulatory shift. He further said:
“Investment in and digital assets has far outpaced our regulatory frameworks in the U.S. We should let investors, firms, and individuals know what the landscape and treatment will be moving forward to support innovation and development. The technology has vast potential.”
U.S Financial Watchdogs at Work
The responsible financial authorities such as the U.S Securities and Exchange Commission (
), Commodity Futures Commission (CFTC), etc., have also been taking some steps towards regulating this nascent industry, to level the ground for all the market participants. They are trying to give regulatory clarity over several and digital assets.
Andrew also labelled New York’s (NY) Bitlicense that vetoed the application by Bittrex as “Onerous.” Small businesses find it difficult to carry out their activities in NY because of the high costs of the Bitlicense, which is one of the reasons why some giant crypto exchanges like are not operating in NY.
The presidential candidate revealed his other goals related to if he is voted as the U.S president. Among other major goals include: bring legislation which will offer strong clarity in crypto market field, for instance by, legally defining a and stating whether it is a security or not, identifying the federal agencies responsible overseeing, monitoring and regulating digital currencies, look for ways of protecting the in the industry, make clear tax implications particularly on holding, selling and and other major , create a national framework on and crypto; and working with various sponsors of Taxonomy Act, Wyoming (WY) legislators to push forward the aforementioned goals, especially demonstrated after their work.
“It’s time for the federal government to create clear guidelines as to how digital currencies markets will be treated and regulated so that investment can proceed with all relevant information,” Yang said.
Cryptocurrency Gains Much Adoption
To show that Yang has a lot of support from the crypto community, the candidate gained fame from the internet and giant social media platforms to the extent that over
from over 21 states sent him to facilitate his campaign and the different presidential debates he will be attending.
The United States is known to be open and friendly for and -related projects. Recently, the state of West Virginia
it plans to use and distributed technology (DLT) in the upcoming 2020 presidential election – the election in which Andrew Yang (Democrat) will be a candidate. Other states such as
,
, Alaska, Connecticut,
,
,
, Washington DC, New Hampshire, and others, are putting their heads high to take advantage of this revolutionary technology.
Published at Sat, 20 Apr 2019 13:58:07 +0000
