U.S. presidential candidate Andrew Young calls for clarity on cryptocurrency regulation

Democratic presidential candidate Andrew Yang called for more clarity on cryptocurrencyregulation. In his opinion, the state does not keep pace with the development of the industry.

In an interview with Bloomberg, US presidential candidateDemocratic Party Andrew Yang expressed his opinion on the current state of the cryptocurrency industry in the country. First, Young highlighted his position on cryptocurrency regulation and the possibility of using bank accounts and credit cards for cryptocurrency transactions, which are quite difficult to track.

“We must have a single set of rules andregulations regarding the use of cryptocurrencies throughout the country. We're currently stuck in a stalemate due to confusion at the state regulatory level, and that's bad for everyone."

He added that one of his priorities in caseThe election of the US President will have clear and transparent rules that will determine the development of the industry. In his opinion, blockchain and cryptocurrencies have very high potential in which the United States should invest.

Young was asked if he supported the idea of ​​monetaryfreedom for people who want to withdraw their money from the banking system. He said that people are already investing in cryptocurrencies, and this will not change due to regulation, even if the government tries to stop them.

Recall that in November Andrew Yang stated thatCryptocurrencies are often used by criminals due to insufficient regulation of the industry. In addition, in April last year, he already promised that he would bring complete clarity to cryptocurrency regulation if he won the elections in 2020.

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