Democratic primary approaching, Andrew Yang praises cryptocurrencies in interview, calls for regulatory consolidation.

Despite not garnering majority support in the US Democratic primary polls, Taiwanese-American presidential candidate Andrew Yang has attracted attention from the cryptocurrency community due to his crypto-friendly policies. Yang recently spoke to Bloomberg, highlighting the regulatory challenges the US faces in the cryptocurrency industry: varying regulations across states. He also stated that the US should heavily invest in blockchain technology.

Despite not garnering majority support in the U.S. Democratic primary polls, Taiwanese-American presidential candidate Andrew Yang has attracted attention from the crypto community due to his crypto-friendly stance. In a recent interview with Bloomberg, Yang pointed out the regulatory challenges the U.S. faces in the cryptocurrency industry: varying regulations among states. He also stated that the U.S. should heavily invest in blockchain.

Yang reiterated, "We're stuck in this hodgepodge of state-by-state regulations that is bad for everyone. It's bad for innovators who want to invest in this space. So, that would be a priority for me, to clear up the regulatory environment and let people know what they can and can't do and allow us to compete effectively."

Yang's crypto policies are highlighted on his campaign website, with "Cryptocurrency and Consumer Protection" listed as a key policy. He acknowledges that cryptocurrencies and digital assets have generated significant value and economic activity, with the market's rapid growth outpacing government responses.

The U.S. SEC and CFTC, under their definitions, face conflicting mandates regarding cryptocurrencies being both securities and commodities. Not only federal agencies, but Yang's campaign website also states that varying levels of regulation and laws across states make it challenging for the U.S. crypto market to compete with China and Europe.

Yang sees significant technological potential behind cryptocurrencies and advocates for substantial U.S. investment. His main policy proposals for development include:

• • Clearly defining utility tokens and when they might be considered securities
  • Defining the regulatory responsibilities of federal agencies regarding cryptocurrencies
  • Clarifying tax regulations for holding, selling, and trading digital assets
  • A national regulatory framework

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