If Yang is appointed, he will become the most important supporter of bitcoin in government.
The official transition of the US presidency finally began after Trump acknowledged his defeat in the elections and gave his approval for the body to begin the transition from government to Biden.
„In the best interests of our country, I am recommending that Emily (GSA) and her team do whatever is necessary in relation to the initial protocols. I told my team to do the same,“ Trump said.
The GSA (General Services Administration) is the U.S. agency tasked with dealing with the transition of governments.
Joe Biden, therefore, has now officially become the president-elect and can officially appoint his team. Among them is a bitcoiner, a digital currency enthusiast.
In a list made by CNN „based on conversations with Biden’s allies and advisors and knowledgeable democrats for Bitcoin Profit,“ they list Andrew Yang as a potential candidate for the Department of Commerce, the U.S. government body charged with promoting economic development.
No decision has yet been announced by Biden for this position, so we may know it today or in the days to come.
If Yang is appointed, he will become the most important supporter of bitcoin in the government.
In his brief campaign for the US presidency, Yang promised „to work with legislators to promote a new regulatory framework for cryptomorphs.
The US Department of Commerce has curiously published an image of Andrew Yang on its website, but it is not clear if this is some kind of tip.
As an entrepreneur who knows the customs of Silicon Valley, Yang may well be the right choice to modernize the department and keep up with the times of rapid change on the technological front.
He is concerned with automation, for example, and it is unclear exactly what plans he has to drive startups and energize the economy.
Arguably, he is the president of the Securities and Exchange Commission (SEC) who can have the most influence there, with Initial Public Offerings (IPOs) in desperate need of reform and the extensive restrictions on capital formation have attracted the wrath of both left and right.
The current president of the SEC is to resign, and Biden will be in charge of appointing a new one. I hope that this time someone will get a department that will innovate for us and therefore for the American people.