May 16, 2019

Yang pitches himself as crypto community's 2020 presidential pick

Democratic presidential candidate Andrew Yang. Photo: Steven Ferdman/Getty Images

Democratic 2020 hopeful Andrew Yang pitched himself as the top presidential pick for the crypto community at the Consensus conference in New York Wednesday.

What he's saying: "[B]lockchain needs to be a big part of our future," Yang said during a keynote address, according to Fortune. "If I'm in the White House, oh boy are we going to have some fun in terms of the crypto currency community."

The big picture: Yang has published a policy for a national framework on crypto-digital regulation and consumer protection, in which he calls for clear guidelines and tax rules. The former tech executive who founded Venture for America, a nonprofit young entrepreneur fellowship program, says he doesn't own any crypto currency.

  • He told Bloomberg after the Consensus conference, "We just need to provide rules of the road. We need to figure out which agency is going to be interacting with individual currencies."

Andrew Yang on the issues, in under 500 words

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The S&P 500 closed up 7% on Monday, while the Dow rose more than 1,500 points.

Why it matters: The huge market surge comes amid rare optimistic signs that the spread of the coronavirus may be slowing in parts of the country, including New York. But government officials say this will be a difficult week, while economists — including former Fed chair Janet Yellen today — warn that the pandemic could have a catastrophic impact on the global economy.

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U.K. Prime Minister Boris Johnson has been taken to the intensive care unit of St. Thomas Hospital in London due to increasingly severe coronavirus symptoms.

The backdrop: Johnson was admitted to the hospital on Sunday for what Downing Street called "routine tests" because his condition had not improved 10 days after he tested positive for the virus. His condition has since "worsened," according to a statement, and Foreign Secretary Dominic Raab will step into his place "where necessary."

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