Remember Andrew Yang? Yeah, neither do we. His presidential campaign lasted around the same time as 90 percent of all the new fall sitcoms that emerge every year (it had about the same level of impact, too).
Andrew Yang Ex-Staffer Catches the Politics Bug
Well, for anyone who doesn’t recall Yang’s time in the spotlight, he was one of many, many, many people who sought the democratic presidential nomination in 2020, and like those many, many, many other people, he failed to garner notice from his own party.
But where Yang did stand out, however, was in his stance on bitcoin and cryptocurrency. Yang ultimately earned the nickname “the bitcoin candidate” given that he was an entrepreneur who was seeking to relieve the United States of the complicated and confusing legislation surrounding crypto business and digital currency trading that still haunts many of those involved in the space today.
While Yang’s status in American politics didn’t go anywhere, an ex-staffer of his, Jonathan Herzog, appears to have been inspired by the political arena. He’s now running for Congress as a democrat in New York (big surprise), and he’s eager to bring bitcoin adoption to the masses.
In a recent interview, he commented that while beginning his campaign, he sought to open checking accounts with both Citibank and Bank of America but was denied each time. He believes this is one of the major hurdles with central banking. The institutions have far too much control over who can gain access to financial services and who can’t, and he’s looking to potentially change that.
He comments that decentralized and permissionless financial systems are the way to go, which is why he’s pushing so hard for BTC and other digital currencies. He comments:
There’s acute urgency to ensure that bitcoin and cryptocurrency have mass adoption and have a regulatory framework that enables their innovation in New York and in the United States.
Bringing BTC to the Masses
When discussing what he would do for cryptocurrency, he says that he would seek to make the rest of the U.S. like the region of Wyoming, which he says has the most crypto-friendly regulations of any state. Talking about what he would change or what he would try to reform, he explained:
The partnerships that led to [Wyoming] is exactly the kind of partnerships we need at the federal level because this hodgepodge of regulations, right now, is like the Wild West, and it’s unsustainable. What it results in is innovation and investment happening offshore and unregulated. I think bringing Caitlin Long, Jack Dorsey and those who’ve been in the trenches to the table is needed at a federal level… Bitcoin is part and parcel of civil rights fights to bank the unbanked and to offer a real decentralized alternative.