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  • Andrew Yang, a former democratic candidate, is running for New York City mayor.
  • The American entrepreneur pushed the idea of Universal Basic Income into politics during his presidential run.

Andrew Yang is an American entrepreneur and former presidential candidate for the democratic party. Yang is now running to become the New York City mayor. Yang has been a big supporter of cryptocurrencies in general and has stated several times that he plans to regulate the digital economy if he became the President of the United States. In a blog shared in November 2019, Andrew Yang talked about cryptocurrencies stating:

Cryptocurrencies and digital assets have quickly grown to represent a large amount of value and economic activity, outstripping government’s response. A national framework for regulating these assets has failed to emerge, with several federal agencies claiming conflicting jurisdictions. 

He also outlined his plans to regulate the cryptocurrency market by promoting legislation that provides enough clarity and defining which federal agencies should have regulatory power over the digital asset space. 

Andrew Yang also believes that the underlying technology of cryptocurrencies is useful and can make things more secure, transparent and efficient. He even talked about a potential use case of blockchain stating:

It is 100% technically possible to have fraud-proof voting on our mobile phones today using the blockchain. This would revolutionize true democracy and increase participation to include all Americans—those without smartphones could use the legacy system and lines would be very short