Former U.S. Presidential Candidate Andrew Yang Discusses Crypto at Blockchain Summit
Former United States presidential candidate, Andrew Yang, took the stage at the North American Blockchain Summit to discuss issues and innovation surrounding digital assets on Thursday, November 16th.
Yang, who is a self-described “big proponent of Bitcoin and cryptocurrencies generally,” founded the pro-tech, centrist Forward Party in 2021.
During the summit, Yang was openly critical of the current state of blockchain technology in the United States, particularly in regards to its media coverage and the potential for it to drive business out of the country.
“The way to avoid this fate is to have positive use cases for blockchain in solving problems for the American people,” stated Yang. “Unfortunately, what they see in the news is just Sam Bankman-Fried and FTX.”
Yang also criticized the regulatory environment regarding digital asset oversight in the United States, equating the atmosphere to “let’s wait until the fiasco happens, and then we’ll have hearings on it afterwards.”
Yang’s comments follow a week that saw numerous hearings on crypto crime, legislation, and regulation. On November 14th, the Senate Banking Committee met with U.S. regulators to oversight of the digital asset sector. The following day, the House Financial Services Subcommittee on Digital Assets met to crack down on cryptocurrency crime and terrorist funding following Hamas’ deadly October 7th attack, which saw 1200 Israelis killed.
“It’s essential that we hold bad actors in the digital asset ecosystem accountable in order for legitimate players to thrive,” said House Financial Services Committee Chairman Patrick McHenry.
Following the hearing, members of the House Financial Services Committee penned a letter to President Biden and Treasury Secretary
Read more on cryptonews.com
