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Hillary Clinton Urges The Biden Administration To Regulate Cryptocurrency

Hillary Clinton, a former presidential contender, has urged the Biden administration to regulate cryptocurrency marketplaces. She cautioned that countries like Russia and China, as well as non-state actors, might use technology to destabilise countries and the dollar as the world’s reserve currency.

In an interview with MSNBC on Tuesday, Hillary Clinton discussed Bitcoin. She expanded on her crypto comments from last week, warning that countries like China and Russia might use the technology to attack the US.

She emphasised the “need for cryptocurrency markets to be regulated,” stressing that “it’s on the horizon that people are only now 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,” emphasised the former presidential candidate. “We are not only looking at states, such as China or Russia or others, manipulating technology of all kinds to their advantage, but we are also looking at non-state actors, either in concert with states or on their own, destabilizing countries, destabilizing the dollar as the reserve currency.”

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Clinton stated, “There are so many major issues that the Biden administration must handle.” 

“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 went on to say: “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.”

Clinton stated last week: “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.”