Andrew Yang explains how he plans to regulate cryptocurrencies.

The 2020 US Presidential candidate Andrew Yang explains his plan to regulate cryptocurrencies without risking the growth of the industry. Yang wants to bring in a national framework on cryptocurrencies.

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Andrew Yang’s campaign has gained quite a momentum in the last few months. Yang has promised to issue Universal Basic Income (UBI) of $1000 to every 18 years above US citizens every month. He calls in freedom dividend. He has also promised to regulate the cryptocurrency industry.

 

Yang wants a national framework on cryptocurrencies.

Andrew Yang has proposed innovative solutions for many current problems, which has impressed a lot of people. In a recent blog about regulating tech firms, Yang proposed to regulate the use of data and privacy by establishing data as a property right. He further proposed a national framework on cryptocurrencies that would define what a token is and when it is a security.

He pointed out that different departments of the federal government treat digital assets like property, commodities, or securities. Currently, there is no national framework for regulating cryptocurrencies in the United States.

 

Yang proposes to set up a Department of Technology.

The Democratic presidential candidate, Andrew Yang, plans to set up a Department of Technology and revive the Office of Technology Assessment. The latter department was dissolved in 1995. Yang proposes to set up this department in Silicon Valley and would initially focus on AI, and would be lead by a Secretary of Technology.

The department would spearhead public-private partnerships to tackle emerging threats and maximize the benefit of technological innovation to society.Yang is a supporter of blockchain technology. Previously, he said that he wants to modernize voting using blockchain technology.

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Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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