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What would Commerce Secretary Andrew Yang mean for crypto?

President-elect Joe Biden is reportedly considering crypto-friendly Andrew Yang as his future Secretary of Commerce.

According to a CNN report “based on conversations with Biden allies and advisers and Democrats with knowledge of the matter,” the president-elect may be tapping Yang, a former presidential candidate and entrepreneur, for a position in his cabinet.

Many considered Yang to be one of the most pro-crypto presidential candidates. He said that he wanted to implement blockchain-based mobile voting and outlined plans to regulate the cryptocurrency industry. The former presidential candidate is most well known for his signature campaign promise to deliver $1,000 a month to every adult in the U.S.

Since ending his campaign in February, Yang has spoken about potentially getting involved in a Biden cabinet. In an August interview on The Carlos Watson Show, Yang said he had spoken to then-candidate Biden regarding “a new position that doesn’t exist yet […] around technology and innovation” but did not directly answer questions in regards to a role as Secretary of Commerce. He also helped launch a nonprofit organization intended to protect privacy online.

As Secretary of Commerce, Yang would represent U.S. businesses in Biden’s cabinet. Lawmakers have already proposed bills which would require outgoing secretary Wilbur Ross to study blockchain technology and report his findings to Congress, responsibilities which would seemingly pass to Yang. 

Biden has already named Janet Yellen to serve as Treasury Secretary and tapped former Commodity Futures Trading Commission Chairman Gary Gensler to volunteer on the transition team as a financial expert. The president-elect announced plans for several positions in his administration today following yesterday’s release of millions of dollars in transition funding. If selected and confirmed, Andrew Yang as Secretary of Commerce could be a step towards more pro-crypto views in the U.S. government.

Yang is currently in Georgia assisting Democratic candidates Jon Ossoff and Raphael Warnock in their runoff elections for U.S. Senate.

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