- Presidential Candidate of the US, Andrew Yang, starts his 2020 election campaign hitting the hot topic, cryptocurrency regulations.
- Regulations can’t stop people from investing in Bitcoins, said Andrew Yang.
- The US needs a uniform set of rules and regulations for Bitcoin trading.
Andrew Yang, the Presidential candidate of the United States, in his interview with Bloomberg, shared his views on the cryptocurrency regulations. According to Yang, there is a need for a clear understanding of the regulations and the country needs to provide clarity on it. However, he didn’t even deny the fact that regulations can’t stop people from investing in Bitcoins.
About Yang
Andrew.M Yang is an American Entrepreneur, Philanthropist, Author, Lawyer who is currently bidding for the US Presidential seat for the 2020 elections. Yang started his career working in growth start-ups. Later, in 2011, he became a founder of Venture for America (VFA) which was a non-profit organization helping people to find a good job during the recession period.
Yang’s take on the Bitcoin Regulations
According to the US Democratic Presidential candidate, Andrew Yang, the country needs a uniform set of rules for Bitcoin trading.
Moreover, there is a need for uniform regulations across the country. Presently, it is varying state-by-state. It creates a bad impression in the minds of investors preparing to invest in emerging technology, blockchain.
He also talked about the present regulations, and added that he will be working on bringing in clarity on the regulations. More so, initially he will prioritize building the organize nation-wide rule which according to him is missing presently.
Besides, he also showed a positive approach towards the blockchain technology. According to him, the blockchain technology has great potential and investors should not be afraid of investing their money in cryptocurrencies.
People will hardly stop investing in Bitcoins
Yang was bold enough to say that current regulations won’t stop people from buying bitcoins. According to him, people are now used to investing their money in cryptocurrencies and no regulations can create a barrier for them to invest.
In fact, there is no need for any central authority or bank for the Bitcoin transactions. This remains the key reason why no one can stop them to do so.
While yang seems positive regarding the cryptocurrencies, there is no positive view shared by present US President, Donald Trump. In fact, in 2019, Trump did say that he is not a fan of cryptocurrencies.
On one side, Yang who is confident enough to bring in clarity on the matter of cryptocurrency regulations and on the other side, he has slowly and silently started his election campaign for the US Presidential elections scheduled to be happening on 3rd November 2020.
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