Copy link
Increase text size
Decrease text size
Link copied

Biden’s choice for Commerce Secretary could be good for the cryptocurrency industry

President-elect Joe Biden is reportedly considering as his new Secretary of Commerce.

Image by: Wikimedia Commons

Wed, 25 Nov 2020, 11:11 am UTC

President-elect Joe Biden has already revealed key members of his foreign policy and national security teams as well as those who will man the top posts in his administration. But what got cryptocurrency enthusiasts excited is the person that Biden is considering as his Secretary of Commerce, as he is someone known for being crypto-friendly.

In an announcement on November 23, 2020, Biden revealed several names for the key posts in his administration. For instance, Antony Blinken is his choice for Secretary of State, Alejandro Mayorkas as Secretary of Homeland Security, Jake Sullivan as National Security Advisor, and Avril Haines as Director of National Intelligence, CNN reported.

The report also revealed Biden’s bet for Secretary of Commerce. The President-elect might be tapping the entrepreneur and former 2020 Democratic presidential candidate Andrew Yang to man the post.

During his campaign, Yang is known for his idea of giving every U.S. citizen $1,000 every month as a universal basic income. In February, he joined CNN as a political commentator after his campaign ended.

Andrew Yang is considered to be one of the most pro-cryptocurrency presidential candidates back then, according to Cointelegraph. During his campaign, he outlined plans for regulating the crypto industry and even planned to implement a blockchain-based mobile voting system.

When his campaign ended, Yang already hinted that he might be involved in Biden’s cabinet. He revealed in an interview in August that he spoke with Biden about “a new position that doesn’t exist yet [...] around technology and innovation.” However, he did not mention being Biden’s choice as Secretary of Commerce at that time.

Should the Secretary of Commerce position eventually go to Yang, he will be representing U.S. businesses in Biden’s cabinet, a role that would befit the entrepreneur. It will also mean that the already proposed bills on blockchain technology would also become his responsibility.

Given his past pro-crypto stance, Yang's appointment to the post would be good news to the industry. “If selected and confirmed, Andrew Yang as Secretary of Commerce could be a step towards more pro-crypto views in the U.S. government,” Cointelegraph added.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $36,642.50 (+1.08%)
  • Ethereum (ETH) $1,257.41 (+0.94%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Cardano (ADA) $0.371500 (-3.70%)
  • Litecoin (LTC) $152.14 (+5.75%)
  • Bitcoin (BTC) $36,642.50 (+1.08%)
Feb 21, 2020 (Friday)
12:01
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
12:00
Brazil to launch new payment system in response to cryptocurrencies
11:59
Digital currency exchange Coinbase Pro lists Kyber Network token
11:57
Norwegian Air to soon start accepting crypto payments
10:21
Swedish central bank begins CBDC pilot with Accenture
09:51
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
14:16
Telecom companies complete cross-carrier mobile payments using blockchain
11:53
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
11:00
South Korean ICO project discontinued, to return $7.5M to token holders
10:36
Samsung maintains crypto support in soon-to-launch Galaxy S20
09:41
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
09:15
Coinbase becomes first crypto company to receive Visa principal membership
08:59
Dubai Economy and six banks launch KYC Blockchain Consortium
08:26
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
07:12
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
06:13
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
05:02
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
04:56
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
04:35
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
12:46
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft