US Democratic Party favors cryptocurrencies

US presidential candidate Michael Bloomberg's financial reform calls for a "clearregulatory framework for cryptocurrencies." The Democratic candidate announced this on his official website.

The last part of his statement is devoted to cryptocurrencies, his plan consists of three points:

• Strengthening the financial system;
• Strengthening consumer protection measures;
• Using the capabilities of the financial system to solve the most pressing problems facing the United States.

Mike Bloomberg emphasizes that he is ready to encourageprosperous innovations that reduce inequality. In addition, he suggests introducing a tax of 0.1% on all financial transactions, raising funds to combat economic inequality. Also, “this will contribute to healthy competition in the financial services sector by creating a regulatory framework and promoting clear regulation of cryptocurrencies.”

Cryptocurrencies are not really somethingnew as part of this presidential election campaign, which will lead to the re-election of Donald Trump or the democrat coming to power. Another Democratic candidate, Andrew Young, also advocates for crypto regulation, explaining that people should be able to freely invest in digital currencies, taking advantage of their technology.

Andrew Young is a bitcoin proponent who has acceptedcryptocurrency donations to finance your election campaign. A few days ago, Young withdrew after the first primary vote in Iowa and New Hampshire.

Some candidates go the distance, othersstay in the game. Heavyweights such as Senator Bernie Sanders and Joe Biden (former vice president of Barack Obama), who, according to the polls, have a better chance of winning than the former mayor of New York, are ready to challenge Michael Bloomberg.

There is no doubt that the next president of the United States will be called upon to respond to global challenges, including the challenge created by the advent of cryptocurrencies and blockchain technology.

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