2020 US Presidential Candidate Andrew Yang to Accept Cryptocurrency Donations
Bitcoin (Image used for representational purpose only)

Washington, July 31: Andrew Yang, a second-generation Chinese American running for the 2020 US presidential race as a Democrat, has announced his acceptance of cryptocurrency as forms of donation, according to Yang's campaign.

The campaign on Monday announced that it can accept Bitcoin, Ethereum, and anything on the ERC20 standard within a maximum of $2,500, reports Xinhua news agency.

Venmo payments of up to $2,700 are also acceptable. The campaign has also used other tech innovations including Twitch and Instagram TV to live broadcast campaign events.

Donors will receive a form that will allow the campaign to verify their voter qualifications, after which it will send a cryptocurrency wallet address to allow them to make donations.

Yang, 43, founded the New York-based entrepreneurial fellowship organisation called Venture for America.

He authored a book called "The War on Normal People" which argues in favour of a universal basic income of $1,000 a month for all US citizens between the ages of 18 to 64.

He also opposes artificial intelligence and automation technology. Yang favours a new type of capitalist economy called "human capital" that is geared to maximise human well-being.