US Presidential Hopeful Yang Calls for National Crypto Regulations

Cryptocurrency Regulation USA

Author

Jaroslaw Adamowski

Author

Jaroslaw Adamowski

Author Profile

Share

Copied

Last updated:

June 26, 2023 06:53 EDT

Why Trust Cryptonews

Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

American presidential candidate and tech entrepreneur Andrew Yang has reiterated his calls to developing a framework of cryptocurrency regulations ahead of the key Democratic Party caucuses in Iowa on February 3.

Yang told Bloomberg, in an interview with the news agency,

“Right now we’re stuck with this hodgepodge of state-by-state treatments and it’s bad for everybody. It’s bad for innovators who want to invest in this space. So that would be my priority, it’s just clear and transparent rules so that everyone knows where they can head in the future and that we can maintain competitiveness.”

Yang, who has previously voiced his support for cryptocurrency-related ventures on numerous occasions, added that he considered “the underlying technology of cryptocurrency” to be “very, very high potential,” and added that the United States “should be investing in” the cryptocurrency industry.

Yang also opined that crypto’s progress is now unavoidable, and stated that the industry could not now be stymied wit regulation even “if you tried”.

Yang has included a number of cryptocurrency-related election manifesto pledges as he continues his bid to run against President Donald Trump in November this year.

In his manifesto, Yang claimed that “states have come up with a patchwork of varying regulations that make it difficult for American cryptocurrency markets to compete with those in other jurisdictions, especially China and Europe.”

His team wrote,

“Different departments of the federal government consider digital assets as property, commodities or securities. Some states have onerous regulations in the space, such as New York’s BitLicense. Navigating this has had a chilling effect on the American digital asset market,”

Yang wants to implement “clear guidelines” that will help crypto ventures and investors “proceed with all relevant information.”