Pro crypto Democrat Andrew Yang announces to run for New York City mayor.

Former presidential candidate, member of the United States Democratic Party, Andrew Yang, has filed paperwork to run in the upcoming 2021 New York mayoral race. Yang has previously called for more transparent and uniform regulation around cryptocurrency. Earlier this year, Yang’s bid for the US Presidency ended as he quit the race, but this doesn’t seem to have deterred the politician from running for another influential position – that of New York’s City Mayor. Bitcoin casino like services in the crypto industry has also increased this year amid the global pandemic. 

Yang proposed clearer guidelines for the crypto industry. 

According to the official Candidate List for the 2021 citywide elections, last updated on December 23rd, 2020, Andrew Yang has filed paperwork to run for the mayor’s seat. However, a CNN report earlier revealed that Yang has previously said that he had no plans to run for mayor in New York. The former tech executive has previously pushed the idea of Universal Basic Income (UBI) to the mainstream of political conversation while he was running for president. Yang believes there’s a need to have a uniform set of rules and regulations around cryptocurrency use nationwide.

Crypto regulations under Joe Biden’s presidency are like to be favorable. 

Earlier, the CEO of the cryptocurrency company Circle, Jeremy Allaire, said he is confident that the incoming Biden administration will support cryptocurrencies. Since the Biden administration said it would be focused on making the country more competitive by bringing in infrastructure changes, it would support cryptocurrencies because digital currencies are core building blocks in those changes, Allaire said in an interview with CNBC. Joe Biden’s administration has not made any particular policy about cryptocurrencies, but it is expected to favor the crypto industry.