U.S. Presidential candidate Andrew Yang proposes a complete overhaul of cryptocurrency regulation. In an interview with Bloomberg yesterday, the Democratic candidate praised the "huge potential" of cryptocurrencies and added that regulation cannot "block" Bitcoin.
Compared to most politicians, Yang is not a person shy about talking about cryptocurrencies. The US election is getting closer, and other candidates are improving their policies. This article will take stock of Yang's seven-time talk about Bitcoin.
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Bitcoin cannot be blocked
In a recent Bloomberg interview, Yang was asked how he would handle cryptocurrency regulation. The Democratic candidate underscored the current state of affairs, hinting at a discordant signal that a regulatory "hodgepodge" of a group of chaotic institutions was sending. Instead, Yang believes that a cohesive and clear regulatory framework is essential to unlocking the "huge potential" of cryptocurrencies.
"Now we are stuck in a 'hodgepodge' of state measures, which is not good for everyone. This is bad for innovators who want to invest in this area."
In addition, while promoting current policy reforms, Yang emphasized that Bitcoin cannot be hindered by regulation.
2. Reforming Cryptocurrency Regulation
Yang has a long-term vision for the reform of existing cryptocurrency regulatory rules. In a policy proposal on digital asset management, Yang suggested that regulatory reforms be "a national framework" to increase innovation and transparency.
"Investing in cryptocurrencies and digital assets is well beyond the U.S. regulatory framework. We should let investors, companies, and individuals know how prospects and methods to support innovation and development will evolve. Blockchain has huge potential. "
3. Accept Bitcoin payments in election campaigns
Don't look at what a person says, but what he does. Back in July 2018, Yang began accepting Bitcoin, Ethereum, and a range of other cryptocurrencies to fund his campaign.
Although he was not the first to accept digital currency, the Democratic candidate has consolidated his position as the "chief commander" of the crypto community.
4. Bitcoin basic income
Yang's most famous remark is probably his promise of $ 1,000 a month to all Americans aged 18-64. The idea is that everyone gets the same amount, regardless of their income or other factors.
In an episode of the "Off the Pill" podcast, Yang joked that Bitcoin could be used to settle his unconditional basic income (UBI).
When the host came up with the idea, Yang replied, "I like your point."
He added, "Almost everyone in the cryptocurrency community likes the idea of unconditional basic income."
Although with the sharp fluctuations of Bitcoin, everyone may end up with different amounts.
5. In the same camp as the cryptocurrency community
Speaking of the cryptocurrency community, in the "The Coin Chat" that was later deleted with crypto Joe, Yang affirmed that he has a sense of intimacy in this field and said that his economic ideals should be comparable to many in the crypto industry be consistent.
Yang advocates further decentralization in politics.
"My views on the economy are very consistent with those in the cryptocurrency community."
"Sometimes people call me a 'futurist', but I believe I am a 'modernist'. He said that most politicians are stuck in the past. I have worked in the technology industry for 20 years and know what is possible . "
6. Bitcoin's underlying technology is very useful
Although Bitcoin was not mentioned directly, as early as 2018, Yang mentioned the potential of the blockchain in response to a Twitter user questioning his position on Bitcoin. To stay neutral on this issue, the Democrat gave a somewhat implicit answer:
"Blockchain has huge potential. It can make many things more secure, transparent and efficient."
He later cited a case of blockchain applications to replace the current voting settings.
"Technically, it's entirely possible to use blockchain to conduct fraud-proof voting on our phones. This will revolutionize true democracy and involve all Americans.-Those who don't have a smartphone can use Traditional system, but there will be very few people in line. "
7. When Bitcoin plummets to $ 573
Yang is a Bitcoin expert. Many people entered the cryptocurrency community at the end of 2017, and Yang actually started focusing on the technology in 2013. When the price of Bitcoin dropped to $ 573 (the previous bubble had reached $ 1,000), everyone was declaring Bitcoin's death, but he remained calm.
"I feel like Bitcoin's price adjustment will make some people nervous," he wrote on Twitter. But Yang is clearly not the case.