After announcing a new political party in the US earlier in October, Andrew Yang has revealed his intensions of making his Forward Party a Crypto Party. The 46-year-old former Democrat has often expressed his support and hopefulness towards the future of the cryptocurrency space. Speaking on the latest Bankless podcast, Yang said that the US must approach the concept “intelligently.” He also predicted a glowing future of the crypto space. The fair distribution of universal basic income is possible through these direct-pay crypto tokens, Yang firmly believes.
Yang has been trying to spread crypto awareness among American law makers, he claimed. He believes that cryptocurrencies are a force of progress, motivation, and a major employment generator.
“I want to make the Forward Party the Crypto Party, truly. Because I see the alignment as very, very deep,” Yang said on the podcast. “The parallels are so strong, where you have this system, you can say the political or the financial system, and you see that it's failing and failing in its various ways, and then you say ‘OK, maybe we can do better.”
The video, uploaded on YouTube, is garnering several pro-crypto comments and support for Yang's initiatives.
“#YangGang and Crypto what a combination,” read another.
Big proponent of Bitcoin and cryptocurrencies generally - and want to allow fiat prices to go down as they should as things get more efficient instead of assuming the inflation model. Learned a lot from you Jeff.— Andrew Yang????⬆️???????? (@AndrewYang) October 6, 2021
While running for the position of New York's mayor months ago, Yang had promised to transform the city into a Bitcoin hub if he was given a chance.
In November 2019, the former Democratic Party politician had posted a detailed blog on how he would draft frameworks to use and regulate cryptocurrencies on a national level. Yang, at the time, was making a base for his Presidential campaign.
In fact, even in 2020, Yang allowed supporters to send donations for his Presidential campaign in Bitcoin and Ethereum.
The over-all climate around the crypto-space is warming up in several parts of the world.
With nations like India and the US working on ways to regulate and possibly legalise the crypto-space, the market capitalisation of all the cryptocurrencies put together, earlier this week crossed a milestone of $2.5 trillion (roughly Rs. 1,87,42,625 crores) according to cryptocurrency tracker CoinMarketCap.
Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.