Andrew Yang, the former Democratic party politician, has confirmed his support for cryptocurrencies during a Twitter exchange with entrepreneur Jeff Booth.
Yang this week revealed his latest movement – The Forward Party – and doubled down on his opinions of Bitcoin and cryptocurrency – a viewpoint he made abundantly clear earlier this year after promising to turn New York City into a Bitcoin hub if he was elected mayor.
Big proponent of Bitcoin and cryptocurrencies generally – and want to allow fiat prices to go down as they should as things get more efficient instead of assuming the inflation model. Learned a lot from you Jeff.
— Andrew Yang🧢⬆️🇺🇸 (@AndrewYang) October 6, 2021
In September, house democrats proposed legislation that would impose ‘wash sale’ rules on cryptocurrency. Wash sale rules allow investors to sell crypto and claim a tax benefit on it, then be able to buy the crypto they sold at a lesser price.
There are those, however, who dislike the potential regulation the government is planning on cryptocurrency.
“It is not possible to, I think, destroy crypto, but it is possible for governments to slow down its advancement,” Musk said.
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