Andrew Yang, a United States Democratic presidential candidate for the 2020 elections, is advocating for clear regulations on digital assets. Yang put the key operative points in a policy published on his campaign website.
Yang — an entrepreneur who contributed $120,000 to establish Venture For America (VFA), an accelerator aimed at building new startups in emerging cities — is running for president in 2020. As part of his presidential campaign, Yang stands for the implementation of cryptocurrency and digital assets regulation in the country.
In the release, Yang outlines that the government has failed to develop and launch a national framework for regulating digital assets, while several federal agencies claim conflicting jurisdictions. Yang stresses the need to define how digital assets should be treated and regulated in order to ensure that investors proceed with all the relevant information. Yang said:
Yang further points out that cryptocurrency and digital asset markets develop faster than regulations can keep up, and that some states have conflicting regulations. “Create 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 continues.