Former presidential candidate Hillary Clinton has called on the Biden administration to regulate the cryptocurrency markets. She warned that countries like Russia or China, as well as nonstate actors, could manipulate all kinds of technology to their advantage and destabilize countries as well as the dollar as the world’s reserve currency.
Hillary Clinton Stresses the Importance of Crypto Regulation
Hillary Clinton, former Democratic presidential candidate, talked about cryptocurrency Tuesday in an interview with MSNBC. She elaborated on her crypto statement last week and warned that the technology may be manipulated by countries like China and Russia to undermine the United States.
She stressed “the need to regulate the cryptocurrency markets,” noting that “it’s on the horizon that people are only beginning to pay attention to.”
“Imagine the combination of social media, the algorithms that drive social media, the amassing of even larger sums of money through the control of certain cryptocurrency chains,” the former presidential candidate said, emphasizing:
We are looking at not only states, such as China or Russia or others, manipulating technology of all kinds to their advantage, we are looking at nonstate actors, either in concert with states or on their own, destabilizing countries, destabilizing the dollar as the reserve currency.
There are so many big questions that the Biden administration must address.
“I just don’t think we have much time, and, therefore, I hope from everything I’m hearing from them that that’s exactly what they’re going to try to do,” she continued.
The former secretary of state further noted: “We certainly need new rules for the information age, because our current laws, our framework, it is just not adequate for what we are facing.”
Last week, Clinton said: “What looks like a very interesting and somewhat exotic effort to literally mine new coins in order to trade with them has the potential for undermining currencies, for undermining the role of the dollar as the reserve currency, for destabilizing nations, perhaps starting with small ones but going much larger.”