US Presidential candidate Andrew Young spoke to Bloomberg about the country’s cryptocurrency regulations. According to him, the United States should establish a single set of rules to govern the industry.
“We need to have a single set of rules and regulations around the use of cryptocurrencies across the country. Because at the moment we are stuck in this stage where every state has different regulations in this regard and that is bad for everyone. This is bad for innovators who want to invest in this space. “
He said it would be his priority to come up with clear and transparent rules so that everyone knows where things are going in the future. This could help them to remain competitive.
Yang also mentioned that he believed that the core technology of cryptocurrencies, blockchain, had “very high potential” and that they should invest in it.
Another exciting thing Young shared was that regulators would not be able to stop people from buying BTC or other cryptocurrencies.
“Right now, people who invest in these currencies are finding a way to do that and make the most of their investments. I don’t think you could obstruct them with regulations, even if you tried. “
In fact, one of the hallmarks of flagship cryptocurrency is that it is resistant to censorship and entirely p2p (peer-to-peer). In other words, a transaction does not require a central authority such as a government or a bank and therefore cannot be stopped or blocked.