2020 Presidential Candidate: Regulators ‘owe’ the crypto community some clarity

  • Presidential Candidate Andrew Yang said he is a supporter of the crypto community.
  • He also called the blockchain “one of the key technologies” of progress. 

On Wednesday, presidential contender Andrew Yang discussed bitcoin, blockchain and his bid for the White House in Consensus 2019.  Yang portrayed himself as a supporter of the crypto community that came weeks after his campaign issued a policy statement on digital asset regulation. He also expressed his opinion about the declining influence of traditional media, the threat of climate change, his Freedom Dividend pitch, and current U.S. president Donald Trump.

During his onstage conversation with Coin Center’s Neeraj Agrawal, Yang assured,” clear guidelines in the digital asset world so that businesses and individuals can invest and innovate in the area without fear of a regulatory shift.”

Yang spoke about the current framework in the U.S. working with the technology which was unclear and unfair to people. He said: 

“If you’re a builder it’s just ‘look, tell me what the landscape’s going to look like and we’ll figure it out from there but no one knows what the landscape will look like.”

Yang said that he doesn’t hold any cryptocurrency but that he has some funds in a vehicle which has some crypto holdings. Yang reported: 

“I think it’s unfair to folks and I think it’s a clear emblem of the U.S.’s approach, and [customers] ask ‘what the heck’ … It’s one thing that they [regulators] come down when there’s clear guidelines [but there aren’t in crypto]. So the regulators owe us some degree, owe the community some degree of clarity.”

Yang also addressed the question of how tokens are classified. He also called blockchain as “one of the key technologies” of progress. 

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