Andrew Yang, a “dark horse” U.S. presidential candidate running as a Democrat, tweeted that he is accepting donations in bitcoin, Ether and other cryptocurrencies for his 2020 presidential bid.
Yang is a successful entrepreneur who founded an organization called Venture for America, an entrepreneurial fellowship. He authored a book called “The War on Normal People” which argues in favor of a universal basic income of $ 1,000 a month for all U.S. adults. He is also opposed to artificial intelligence and automation technology.
Yang, whose organization is based in New York City, favors a new type of capitalist economy called “human capitalism” that is geared to maximizing human well being.
Crypto Donors To Receive Forms
Yang’s campaign noted that it accepts bitcoin and any coin based on the ERC20 standard. Donors will receive a form that will allow the campaign to verify their voter qualifications, after which the campaign will send a cryptocurrency wallet address to allow them to make the donation.
The maximum donation for an individual is $ 2,500.
The campaign advised donors not to share the campaign’s wallet address since it would allow untraceable donations to be made.
Donors must be U.S. citizens or lawfully admitted permanent residents. They must be 18 years old and cannot be a federal contractor.
The Twitter announcement drew mixed reactions. One tweeter said Yang should not be accepting cryptocurrency because bitcoin servers consume too much energy and non-renewable energy that is contributing to climate change.
Another tweeter said cryptocurrency is “dark money.” Still, another said cryptocurrency would be used to accept illegal foreign donations. Supporters said it is about time candidates accepted cryptocurrency.
Other Candidates Accept Crypto
Yang is not the first presidential candidate to accept cryptocurrency donations.
U.S. Senator Rand Paul, a Kentucky Republican, accepted bitcoin campaign contributions in 2016 when he ran for president. Austin Petersen, a Missouri Republican who’s running for Senate, accepted 24 fractional bitcoin donations (totaling $ 9,700) in January of 2018.
The Libertarian Party of Texas accepted bitcoin donations in 2014. The U.S. federal government, the state of Montana and Washington, D.C. allow cryptocurrency campaign contributions, while Wisconsin is considering accepting them as well.
Featured image from Youtube/The Artificial Intelligence Channel.
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