May 17, 2019 11:00 UTC
May 17, 2019 at 11:00 UTC
Andrew Yang, 2020 Presidential Candidate Calls For More Clarity From the Regulators on Cryptocurrencies
Andrew Yang, the 2020 US Presidential candidate was a speaker at consensus 2019 where he talked about Bitcoin and importance of blockchain in the current world along with his bid for the presidential election. Yang has been pro-crypto since the beginning of his Presidential candidature and often promised to bring user compliant crypto regulations if he becomes the next president of the United States.
Yang also talked about the declining role of traditional media, the threat of climate change his Freedom Dividend pitch, and current U.S. president Donald Trump. During his interaction at the event, Yang lay special importance on the clarity of regulations, and assured, “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.”
Yang believes the current regulations are not well structured and clear enough for the majority to understand, which is unfair to the crypto community, he explained,
“If you’re a builder it’s just ‘look, tell me what the landscape’s going to look like and we’ll figure it out from there but no one knows what the landscape will look like.”
Yang clarified that he does not hold any cryptocurrency but hold funds in a vehicle which has some crypto holding. Yang believes that the crypto community in the US deserves a well formalized and transparent regulatory reforms so that no one misses out on the hottest trend just because of the inability of few regressive regulators.
“I think it’s unfair to folks and I think it’s a clear emblem of the U.S.’s approach, and [customers] ask ‘what the heck’ … It’s one thing that they [regulators] come down when there are clear guidelines [but there aren’t in crypto]. So the regulators owe us some degree, owe the community some degree of clarity.”
Yang during his speech also laid emphasis on the blockchain technology, calling it one of the key technology for progress.