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Democrat Andrew Yang Praises Cryptocurrency?

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United States Presidential candidate Andrew Yang says Americans should invest in cryptocurrencies. Yang desires to produce transparent and clear rules for digital assets. Yang says regulation can't stop cryptos.

Tech entrepreneur Andrew Yang is pro-crypto and thinks Americans should invest in it. So far, he is the only one among all the other presidential candidates to have an official policy for it.

This week, Yang discussed some of his advocacies in an interview, where he touched on his proposal for a universal basic income, wherein American's over a certain age will receive funding every month. He also spoke about healthcare and his plans on how the U.S. could better embrace cryptocurrencies.

One of the issues that Yang pointed out in his crypto policy is that States have varying regulations on digital assets, which can be confusing for those who are interested in the space, and that inhibits growth for the technology. Yang also thinks that regulation has been too slow to keep up with the development of cryptocurrencies:

"We need to have a uniform set of rules and regulations around cryptocurrency use nationwide because right now, we are stuck in this hodgepodge, in this state-by-state treatment, and it's bad for everybody -- it's bad for innovators who want to invest in this space," said Yang.

"So, that would be my priority: just clear and transparent rules, so that everyone knows where they can head in the future, and that we can maintain competitiveness." 

"Because to me, the underlying technology of cryptocurrencies is a very high potential, and we should be investing in it," he continued.

Yang was also asked if he supports people moving away from fiat money, and traditional banking since the government seems to be curbing these kinds of transactions. And as an attorney himself, Yang responds that regulation can't stop cryptocurrencies, even if you tried.

Yang has huge backing from the crypto community and is seen as a voice for tech-bros who are passionate about blockchain and digital assets. Even Elon Musk tweeted his support for Yang.

In Yang's campaign site, the potential POTUS also wants to clarify the tax implications of owning, selling, and trading digital assets, provide consumer protection and identify the fed agencies, who have power over cryptos.

Democratic Presidential candidate Andrew Yang speaks during a gathering of the National Action Network in April, in New York.