Presidential Hopeful Andrew Yang Plans to Regulate Crypto Industry
Joeri Cant's original article for cointelegraph.com reduced by 53%
Democratic 2020 presidential candidate Andrew Yang has outlined how he plans to regulate the cryptocurrency industry. Promise to promote legislation on cryptocurrenciesOn Nov. 14, Yang, an entrepreneur, lawyer, philanthropist and a Democratic candidate in the 2020 United States presidential election, wrote in a Nov.
14 blog post on the tech industry that cryptocurrencies experience the levels of fraud that they do because of lack of adequate regulations. Existing market for crypto, existing problems in big techYang explained that cryptocurrencies and digital assets already compose a great deal of economic activity. In his broader plan to regulate the tech industry and protect U.S.
citizens from big tech companies "That are prioritizing profits over our well-being," Yang promises to promote legislation on the crypto asset market space by defining what a token is, when a token is a security, and clarify the tax implications of owning, selling, and trading digital assets, among others. Taking a stab at Congress for lack of basic knowledge of technologyYang further pointed out that in order to effectively regulate innovative technologies like blockchain and cryptocurrencies, the U.S. government first needs to understand it.
Yang is referring to the Financial Services Committee, who questioned Facebook CEO Mark Zuckerberg for over six hours about the Libra Association and its planned Libra token. In August, Yang said that he plans implement blockchain-based mobile voting if he wins the 2020 United States presidential election, believing that American citizens should have the option of voting on a mobile device - with blockchain technology used for verification purposes.
Donate Bitcoin to this address
Scan the QR code or copy the address below into your wallet to send Bitcoin
Donate Ethereum to this address
Scan the QR code or copy the address below into your wallet to send Ethereum
Donate With MetaMask
Donate ETH With MetaMask
Alternatively, support us by using the following referral links:
CN [too long; didn’t read]
Summarised crypto news.