{"id":379143,"date":"2019-04-19T22:00:21","date_gmt":"2019-04-19T22:00:21","guid":{"rendered":"https:\/\/uniquehot.com\/?p=379143"},"modified":"2019-04-19T16:13:27","modified_gmt":"2019-04-19T16:13:27","slug":"as-more-investors-flock-to-crypto-will-us-presidential-candidates-start-making-it-a-priority","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/as-more-investors-flock-to-crypto-will-us-presidential-candidates-start-making-it-a-priority\/","title":{"rendered":"As More Investors Flock to Crypto, Will US Presidential Candidates Start Making it a Priority?"},"content":{"rendered":"
It\u2019s no secret that over the past several decades politics in the United States have become increasingly about appealing to voter blocks, and regardless of whether or not this is good or bad, this trend may ultimately prove to be beneficial for the crypto industry.<\/p>\n
Because the number of cryptocurrency investors in the United States is actually quite large on a percentage basis and will likely continue growing along with the markets, it is highly likely that more and more candidates for influential public offices will begin placing cryptocurrencies on their list of priorities to address.<\/p>\n
According to a study published<\/a>\u00a0in March of last year, 8% of Americans are currently invested in cryptocurrencies<\/a>. Although it is highly likely that this number has changed in the year since the report was first published, the lack of any significant changes in the overall markets has probably led this number to remain relatively stable.<\/p>\n Some candidates for elected offices are already taking note of the portion of citizens who are invested in the nascent technology, and although 8% seems like a small number, gaining a voter block of that magnitude for a national election could sway the results.<\/p>\n Moreover, as this number grows \u2013 which it undoubtedly will, assuming that the crypto markets continue to expand \u2013 it will be critical for candidates to acknowledge these investors by presenting solutions to the regulatory problems the industry currently faces.<\/p>\n Recently, Andrew Yang \u2013 a candidate running for the presidential office in the 2020 race as a Democrat \u2013 laid out his thoughts<\/a> on cryptocurrencies, lambasting New York state\u2019s BitLicense while advocating for a \u201cdo no harm<\/a>\u201d approach that allows the United States to remain on the forefront of innovation in the rapidly evolving industry.<\/p>\n In the post, Yang explains that the crypto market’s growth over the past several years has outpaced the government\u2019s response, making now a critical time to begin implementing regulatory frameworks.<\/p>\n \u201cCryptocurrencies and digital assets have quickly grown to represent a large amount of value and economic activity. This quick growth, however, has outstripped the government\u2019s response\u2026 It\u2019s time for the federal government to create clear guidelines as to how cryptocurrencies\/digital asset markets will be treated and regulated so that investment can proceed with all relevant information,\u201d Yang explained.<\/p><\/blockquote>\n Although the term \u201cregulation\u201d may scare some ardent cryptocurrency advocates, Yang further explained his position by describing the controversial BitLicense in New York as \u201conerous.\u201d<\/p>\n \u201cSome states have onerous regulations in the space, such as NY\u2019s BitLicense. Navigating this has had a chilling effect on the US digital asset market,\u201d he wrote.<\/p><\/blockquote>\n As to how he plans to go about implementing the proposed regulatory framework, Yang explains that if he were to be elected, he would offer better definitions for what a token is and when it is a security, and would clarify the tax implications of buying, selling, and trading crypto, among other things.<\/p>\n All this would be done with the goal of creating \u201cclear guidelines in the digital asset world so that businesses and individuals can invest and innovate in the area without fear of a regulatory shift.\u201d<\/p>\nPresidential Candidate Andrew Yang Advocates for \u201cDo No Harm\u201d Crypto Regulations<\/strong><\/h2>\n