One of the next presidential candidates of the United States, Michael Bloomberg (Michael Bloomberg) is the founder of Bloomberg Limited Partnership and Bloomberg Philanthropies, the UN special envoy for climate action, and served as mayor of New York for three times. At the same time, in 2019 In March, Michael Bloomberg ranked 9th on the 2019 Forbes Global Billionaires List with a wealth of US$55.5 billion (Trump is worth about US$3.1 billion).
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Bloomberg wants to legalize cryptocurrency
Bloomberg makes these statements in his just-published "Financial Reform Policy," and while not the first candidate to support cryptocurrency regulation, Bloomberg is by far the most credible given his background in finance. Yes, another candidate, Andrew Yang, who recently dropped out of the presidential race, is also a proponent of cryptocurrencies.
Bloomberg's plan states that cryptocurrencies have become an asset class worth hundreds of billions of dollars, yet regulatory oversight remains fragmented and untapped. For all the promise of blockchain, bitcoin and initial coin offerings, there's plenty of hype, as well as fraud and criminal activity, and Bloomberg will work with regulators to provide clearer rules for doing business.
The document calls for the creation of consumer protection mechanisms, clarification of taxation issues and the creation of a framework for initial coin offerings by determining which tokens are legal securities. It also calls for the definition of supervisory rules and regulations for banks and financial institutions.
Bloomberg's proposal, though brief, was notable because other leading candidates remained silent on the issue. Front-runner Bernie Sanders made no statement on cryptocurrencies, nor did Joe Biden or Elizabeth Warren, except for Pete Buttigeg ) simply means that Bitcoin should be treated as a commodity.
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U.S. Regulators Can’t Ignore Blockchain Developments
There may be little talk of blockchain development among presidential candidates, but the topic isn't going away. Other parts of the government have been quick to address the impending wave of crypto adoption, and just last week, Federal Reserve Chairman Jerome Powell discussed bitcoin before the House Financial Services Committee.
The fact that Bloomberg is willing to tackle blockchain assets is not surprising. After all, he founded one of the most successful financial companies in modern history, specializing in software and technology. He is undoubtedly familiar with the disruptive potential of cryptocurrencies. and its growing influence around the world.
It is worth noting that if the recovery of the cryptocurrency market continues, almost all candidates will express their positions on how the federal government should respond to blockchain development.
The original text comes from bitcoinist, compiled by the BluemountainLabs team, the English copyright belongs to the original author, please contact the editor for Chinese reprint.
The original text comes from bitcoinist, compiled by the BluemountainLabs team, the English copyright belongs to the original author, please contact the editor for Chinese reprint.
