U.S. presidential candidate Yang wants to “clear” Bitcoin regulation

Home News U.S. presidential candidate Yang wants to “clear” Bitcoin regulation

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Marcus Misiak –
20.04.2019

US presidential candidate for 2020, Andrew Yang advertises in addition to the introduction of a universal basic income (UBI) to create a “clear” legislation for crypto wähungen such as Bitcoin . Model systems to existing state Law, such as the existence of Wyoming.

Andrew Yang, a democratic presidential candidate for the US election in 2020 is Per crypto! Yang is a technically accomplished lawyer, of the scene comes from the Startup and founder of Venture for America, a non-profit organization that seeks “to revitalize American cities and communities through entrepreneurship”. His campaign for the democratic party promises to be a universal basic income, Health Care for all and a clear regulation of Bitcoin. In a press release, Yang said:

Investments in crypto-currencies and digital Assets have exceeded our regulatory framework in the United States. We should inform investors, companies and individuals about how the landscape and the treatment will develop to support Innovation and development. The Blockchain has enormous potential.

The United States is currently pursuing an approach that is best described as “Patchwork” to describe, because each Federal state may declare their own rules and laws for the crypto-regulation. Yang sees this as a major Problem and said that the Lack of a uniform national policy will only lead to the detriment of the country. Overall, the bishigere the US regulatory Action had a “chilling effect on the crypto”. Instead, Yang calls for a “clear national framework” for the regulation.

We have developed a patchwork of different regulations, which makes it difficult for US crypto currency markets to compete with those in other jurisdictions, particularly in China and Europe. […] It is time that the Federal government creates clear guidelines on how crypto-currencies/Digital Asset treated and regulated, so that the investment can travel with all the relevant information.

Special attention is put Yang on the New York BitLicense, the Yang as a “nuisance”. Instead of relying on the perspective of the old legislature, promises to be Yang to take advantage of the efforts already made to give to the United States as the basis for his entire policy is a pause for breath. In particular, he would “work with the sponsors of the Token Taxonomy Act and the Wyoming act together to promote favorable conditions” that “are largely modeled on their work”. Also the complex Status quo of the regulatory division between the two US regulators – the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), he sees it as too complicated.

Yang’s goal is to provide clear guidelines to developers and investors in the industry can be innovative without fear of regulatory changes or arbitrary punitive measures.

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