This new alternative proposed by Yang seeks to normalize the way crypto is treated at the regulatory level throughout the United States.
The candidate for the presidency of the United States, Andrew Yang, strong defender and promoter of cryptocurrencies, announced through his presidential campaign, a technological plan focused on rebuilding the country’s relationship with the great technological giants, in addition to its called to normalize the way cryptography is treated at the regulatory level.
In a policy proposal published on its website, Yang proposed strict data protection laws, a Technology Department, health guidelines for the protection of children and changes to section 230 of the Communications Decency Act, the principle Internet regulation center that protects websites from their user actions.
Committed to crypto
Yang promised to avoid state regulations, such as the New York BitLicense, which in his own words, “has had a chilling effect on the United States digital asset market.” New York law is already leading to legislative arbitration with remote states, such as Wyoming, which presents a state-based solution to the question everyone asks about crypto registration at the banking level.
In fact, much of Yang’s crypto stance was taken from his previous campaign statements. The candidate added:
“Cryptocurrencies and digital assets have grown rapidly to represent a great deal of value and economic activity, surpassing the government’s response.
We should not repress innovation, but neither should we let it exceed our ability to regulate it. “
Yang proposed defining tokens and clarifying crypto tax laws, protecting consumers and promoting cross-platform competition. In his opinion, that means providing legislative clarity to a notoriously fraudulent technology of fraud.
Its solution is based on demanding that the disparate parts of the US government, from tax collectors, securities regulators, legislators and agencies in general, define their positions on crypto assets, eliminating the uncertainty that could be avoiding mass adoption.
Yang and his work
The aspiring Democrat is an open evangelist of cryptocurrencies and Blockchain. It supports voting platforms based on the blockchain and has ridiculed cumbersome regulatory schemes, praising Blockchain as one of the key technologies. In August, it was reported that Yang wants to use Blockchain in the elections
Yang has even attended industry conferences. In Consensus 2019 he called himself a friend of the industry and promised to support him if he won. Voting for the Democratic primary begins in February 2020.
The CNN Business media also referred to Yang’s announcement, citing the aforementioned Department of Technology as a “Department of the Care Economy” that would work with the aforementioned Big Tech companies and apply regulations that curb the negative effects of smartphones and social networks.
It is clear that we need 21st century solutions to the challenges of the 21st century. Breaking Facebook or Apple sounds good, but I would not address this issue. In any case, having four Facebooks competing for our attention could make the problem worse.