A mayoral candidate in New York City, Andrew Yang, has revealed his intention to make the city a hub for cryptocurrencies if elected. The aspirant revealed his crypto plans for New York City in a tweet posted on the 11th of February. Yang wrote:
“As mayor of NYC – the world’s financial capital – I would invest in making the city a hub for BTC and other cryptocurrencies.”
Several crypto firms have been avoiding New York City due to its strict regulation on digital assets, such as the New York State Department of Financial Services’ BitLicense framework.
Over time, Yang exhibited support for the crypto space. The Block also revealed that the mayoral candidate has Bitcoin investment.
While running as a presidential candidate, Yang said during his campaigns that he had plans to regulate cryptocurrencies at a national level. He planned to create a federal framework that would guide cryptocurrency across the country. He also advocated for modernized voting via blockchain technology. Of all the previous presidential candidates in the US, Yang was the only one with publicized plans for the crypto industry. However, he dropped out of the Democratic primaries in February 2020.
In his current political aspiration to become a mayor in New York City, Yang is leading the Democratic polls.
Image Credits: Pixabay
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