After announcing a new political party in the US in early October, Andrew Yang has revealed his intention to make his Forward Party the Crypto Party. The 46-year-old former Democrat has often expressed his support and hope for the future of the cryptocurrency space. Speaking on the latest Bankless podcast, Yang said the US should approach the concept “wisely”. He also predicted a bright future for the crypto space. Fair distribution of universal basic income is possible through these direct-paying crypto tokens, Yang firmly believes.
He claimed that Yang was trying to spread crypto awareness among US lawmakers. He believes that cryptocurrencies are progress, inspiration and a major employment generator.
“I really want to make the Forward Party the Crypto Party. Because I see the alignment very, very deep,” Yang said on the podcast. “The parallels are so strong, where you have this system, you can say political or financial system, and you see it failing and failing in its different ways, and then you say ‘Okay. Maybe we can do better.”
The video, uploaded to YouTube, has been garnering many pro-crypto comments and support for Yang’s initiative.
“Until a “better” crypto-positive candidate comes, I am a supporter and the Forward Party is my party,” one comment read.
“What a combination #YangGang and crypto are,” read another.
Big proponents of bitcoin and cryptocurrencies in general – and want to allow fiat prices to go down as things become more efficient – rather than assuming inflationary models. Jeff learned a lot from you.
— Andrew Yang????⬆️?????????? (@AndrewYang) October 6, 2021
Months earlier running for the position of mayor of New York, Yang promised to turn the city into a bitcoin hub If given a chance.
In November 2019, the former Democratic Party politician posted a detailed blog about how he would draft a framework for the use and regulation of cryptocurrencies at the national level. Yang, at the time, was laying the groundwork for his presidential campaign.
In fact, even in 2020, Yang allowed supporters to send donations to his presidential campaign in bitcoin and Ethereum.
The overall environment around the crypto-space is heating up in many parts of the world.
Working with countries like India and the US on ways to regulate and potentially legalize the crypto-space, Market capitalization Earlier this week, all cryptocurrencies together crossed a milestone of $2.5 trillion (about Rs 1,87,42,625 crore), according to cryptocurrency tracker CoinMarketCap.
Cryptocurrency is an unregulated digital currency, is not legal tender and is subject to market risks. The information in this article is not intended to be financial advice, trading advice or any other advice or a recommendation of any kind offered or endorsed by NDTV. NDTV shall not be liable for any loss arising out of any investment based on any alleged recommendation, forecast or any other information contained in the article.