The entrepreneur and aspiring democrat presidential candidate of the United States for 2020, Andrew Yang is gaining more and more sympathizers in America, and his proposals are echoing in the community of crypto users and blockchain enthusiasts as they provide an optimistic outlook for the cryptoverse in case he wins the elections.
Yang, whose social policies have become his strong point, is the only candidate with a concrete and favorable proposal for the development of the crypto economy. During a speech at the Consensus 2019 Conference in New York, Yang promised that if he wins, the scene will become more important in the country.
“I believe that blockchain needs to be a big part of our future. If I’m in the White House, oh boy are we going to have some fun in terms of the cryptocurrency community.”
Crypto is a Fun World But Yang Takes it Very Seriously
Despite talking about fun, Yang takes crypto-oriented policies very seriously. In April, he published a guide on crypto regulations explaining how he was not only going to promote greater clarity in the industry but hoped to encourage the growth of these technologies.
According to his official website, Yang’s proposals are:
- Defining what a token is, and when it is a security (e.g., recognizing “utility tokens”)
- Define which federal agencies have regulatory power over the crypto/digital assets space
- Provide for consumer protections in the space
- Clarify the tax implications of owning, selling, and trading digital assets
- Promote the nationwide adoption of recognition of protections afforded by a series LLC
- Preempt state regulations when possible to create one national framework
- Work with the sponsors of the Token Taxonomy Act and Wyoming legislators to promote the above, largely modeled after their work.
Andrew Yang Wants to Show The Social Side of the White House
The candidate recently announced that he surpassed the number of donations needed to participate in the first debates. In this way, he hopes that his proposals will not only reach out to the users of cryptocurrencies but will also have a wider audience.
Yang is also known for promoting the implementation of a guaranteed universal basic income of 1000$ per month in an attempt to combat job losses due to automation.