US Presidential candidate Andrew Yang calls for clear regulations on Cryptocurrencies

2020 Presidential candidate Andrew Yang called for clear regulations for Cryptocurrencies and shared his support for the underlying technology.

In a recent interview with Bloomberg, Yang discussed the need for clear cut regulations on Cryptocurrencies. He rightfully called the current state of the regulatory framework in the US as a ” hodgepodge of state-by-state treatment “.

He said:

“We need to have a uniform set of rules and regulations around Cryptocurrency use nationwide because right now we are stuck with this hodgepodge of state-by-state treatment and its bad for everybody”

Many entrepreneurs have moved out of the US to start Crypto firms due to lack of clarity in terms of regulations and the cumbersome process with various agencies if at all they have a utility token which might be deemed a security. Yang highlights the point that the US needs clear cut regulations to maintain competitiveness with other countries, he said:

“My priority is just clear and transparent…