• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
andrew yang bitcoin cryptocurrency
Nexo

US Presidential Candidate Yang Promises ‘Clear’ Bitcoin Regulation

Esther Kim by Esther Kim
3 years ago
in News, Bitcoin, Bitcoin Regulation, News teaser
0

2020 US Presidential hopeful Andrew Yang has given the clearest sign yet that he welcomes Bitcoin, releasing a dedicated statement on cryptocurrency regulation this week.


Yang Highlights ‘Vast Potential’

Yang, whose pitch revolves around radical economic policy such as installing a Universal Basic Income (UBI), said that he would create “clear” legislation on crypto, using pro-industry legal schemes such as that of Wyoming as role models.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

“Investment in cryptocurrencies and digital assets has far outpaced our regulatory frameworks in the US,” he summarized.

We should let investors, companies, and individuals know what the landscape and treatment will be moving forward to support innovation and development. The blockchain has vast potential.

As Bitcoinist has often noted, the US currently operates a patchwork approach to crypto regulation which varies from one state to another.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

The implications of the policy have been significant, with businesses complaining of impossible barriers to entry and many entities barring US users from their services.

Yang agrees, saying that the absence of a standardized national policy will only end up to the country’s disadvantage.

“…[S]tates have come up with a patchwork of varying regulations that make it difficult for the US cryptocurrency markets to compete with those in other jurisdictions, especially China and Europe,” his statement continues.

…It’s time for the federal government to create clear guidelines as to how cryptocurrencies/digital asset markets will be treated and regulated so that investment can proceed with all relevant information.

Get Rid Of ‘Onerous’ BitLicense

Specific scorn came in for New York’s BitLicense, which Yang describes as “onerous.” The notoriously inefficient scheme has frequently come in for public scrutiny from users and businesses alike, all of whom complain that it fails comprehensively in its objectives to formalize the industry.

BitLicense Revisions

Instead of relying on legacy lawmakers’ perspective, Yang pledges to use efforts already underway to give crypto breathing space in the US as the basis for his entire policy.

Specifically, he would “work with the sponsors of the Token Taxonomy Act and Wyoming legislators to promote” favorable conditions, these being “largely modeled after their work.”

The complex regulation-sharing status quo between two US regulators – the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) – would also come under review.

For investors worried about the reporting requirements imposed by the Internal Revenue Service (IRS), Yang would likewise “clarify” tax policy, without giving specific information.

The candidate himself has accepted Bitcoin donations for his presidential campaign since July last year.

What do you think about Andrew Yang’s cryptocurrency policy statement? Let us know in the comments below!


Images via Shutterstock

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Esther Kim

Esther Kim

Related Posts

Crypto

Crypto Disaster: Ethereum Co-Founder Vitalik Buterin Claims He’s Not A Billionaire Anymore

2 hours ago
A16z

A16z Rolls Out $600 Million Gaming, Web3 And Metaverse Dedicated Fund

5 hours ago
Bitcoin

Bitcoin Pizza Day: Celebrating The $300-Million Pizza Order – And Other Fun Facts

21 hours ago
Cyprus

Cyprus Drafts Regulatory Framework For Cryptocurrencies

23 hours ago
Central Bankers, El Salvador flag

It Was Not A Bitcoin Event. Then, Why Were The Central Bankers In El Salvador?

1 day ago
UnicornDAO

UnicornDAO Rallies For Women And LGBTQ Artists; Raises $4.5 Million 

2 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.