President-elect Joe Biden is seemingly ironing out the key figures to his new administration. Following yesterday’s report that Biden chose Janet Yellen, the former Fed executive, as the new US Treasury secretary, he may have chosen the next Commerce secretary as well. According to CNN, numerous conversations are floating around today that the president-elect eyes Andrew Yang, a former presidential candidate himself, as the new figure for the aforementioned governmental position.
Andrew Yang’s relationship with the newly elected President is well-documented. Since his withdrawal from the Presidential race last February, Yang has been open about his support for Biden and has hinted at the possibility of seating in his cabinet if he so does win. Going back last August, Yang stated on a particular talk show that he has long been in talks with Biden regarding a potential position that concerns innovation and technology. Considering all of that, the president-elect choosing him as the new secretary of Commerce just makes sense.
This development bodes well with the crypto industry. This is because Andrew Yang has long been considered one of the most crypto-supportive political figures we have to date. In fact, he has once stated that he desires to implement a mobile voting framework built around the blockchain technology on top of outlining noteworthy plans to regulate crypto as a whole. Say that his views regarding cryptos do not change any time soon, the industry can safely expect great things to come as Yang serves as the Commerce secretary.