Digital currencies such as Bitcoin, Ethereum are well-known around the world. It is an interesting fact that Bitcoin, which is the world’s first cryptocurrency, not only survived but the biggest digital currency in the market.
The lack of regulations has a negative influence on digital currencies. In this situation, it is not an easy task to strike a balance between crypto regulations and digital currencies.
Andrew Young, who is a U.S. Democratic presidential hopeful has a plan on how to accomplish this goal. Yang explained his position regarding the cryptocurrency market in his technology governance policy statement.
According to Yang, the lack of robust regulations triggered crypto-related frauds.
Let’s have a look at how the Democratic Party hopeful is going to deal with this problem and his plans regarding the crypto adoption.
He proposed to develop the national framework to regulate crypto assets.
Also, Yang plans to create distinct jurisdictions for Federal as well as State agencies about crypto regulations.
His technology governance policy statement includes a four-point agenda for digital technology governance in the U.S. Yang’s position regarding the crypto regulations is that it is important to adopt a 21st-century approach.
Analysts also believe that due to the lack of clear legislation, the U.S. may find it hard to compete with other countries.
Also, he wants to encourage blockchain adoption in the U.S. Moreover; he stated that the country should adopt blockchain voting. Andrew Yang is the most crypto-friendly Democratic candidate.
Investment Fund and Digital currencies
On November 19, famous crypto supporter Rover Ver announced at a Bitcoin Cash meeting in London.
According to the official statement, Bitcoin.com, which is a Bitcoin-related firm backed by Roger Ver, plans to launch its $200 million Bitcoin Cash investment fund.
Bitcoin Cash investment fund will invest in payment gateways, processors remittances. Also, it will provide funds for the wallet and merchant acquirers.
Bitcoin.com provides several Bitcoin and Bitcoin Cash services, including crypto trading, storage, etc. It launched its digital exchange in September 2019.