Andrew Yang To Promote Crypto Industry
Democratic candidate in the 2020 United States presidential election, Andrew Yang, has outlined his ideas in regulating the cryptocurrency industry.
On November 14, he posted a blog post on the tech industry that cryptos are facing the levels of fraud that they do because it needs more adequate regulations. Andrew Yang stated that other countries are dominant in the new marketplace. And they dictate the rules that they will need to follow once they’ve caught up.
Furthermore, he said that cryptos and digital assets already made a massive deal of economic activity. Then, governmental feedback has lagged. Andrew Yang explained, “A national framework for regulating these assets has failed to emerge, with several federal claiming conflicting jurisdictions.”
In addition to that, he indicated that to regulate innovative technologies successfully, like blockchains and cryptos, the U.S. government must first understand it.
Andrew Yang is talking about the Financial Service Committee, who questioned Mark Zuckerberg for more than six hours. And it was all about the Libra Association and its Libra token. He expressed how embarrassing it is to watch the ignorance of some members of Congress display when talking about technology. And they don’t have a base level of understanding, so it’s unreasonable to expect appropriate regulation of major tech firms.
Back in August, Andrew Yang stated that if he wins the 2020 United States presidential election, he will impose blockchain-based mobile voting. Yang believes that American citizens need to have the option of voting on a mobile device – with blockchain technology used for verification.
Last Friday, Bitcoin (BTC) tried to surpass the $9,000 price level. But it swiftly got rejected and went back to lower levels below $8,600. And it remained there for the whole weekend.
Aside from that, Ether (ETH) is recently firm near the price of $183 per coin. The number one altcoin further traded in perfect sync with BTC. And it showed upward price behavior resulting in its recent trading position, up by .73%.
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