In Brief:
- Hillary Clinton argues that cryptocurrency markets must be regulated.
- She added that crypto markets with state and non-state elements have the potential to destabilize US currency reserves.
- She also talked about manipulation of social media platforms.
In an interview with MSNBC, on Wednesday, Hillary Clinton called on the Biden Government asking regulations on crypto markets citing manipulation from China, Russia, and others.
In the interview with host Rachel Maddow, Hillary also talked about manipulation of social media platforms as well as tech firms by certain nations.
On the program, Clinton said, “There’s one other thing that’s on the horizon, which people are only beginning to pay attention to, and that’s the need to regulate the cryptocurrency market. Imagine the combination of social media, the amassing of even larger sums of money through the control of certain cryptocurrency chains.”
“We’re looking at not only states such as China, Russia, or others manipulating technology of all kinds to their advantage,” Clinton added. “We’re looking at non-state actors, either in concert with states or on their own destabilizing countries, destabilizing the dollar as the reserve currency.”
Clinton explained that it’s not just about “states” like China, Russia, or other foreign entities manipulating all kinds of technology to their advantage; even non-state actors, in agreement with states or on their own destabilize countries, destabilize the dollar as the reserve currency.
Citing Russia’s elections, Clinton articulated her concerns, especially the way social media platforms have been used to influence the elections through disinformation, and also the way crypto markets can help state and non-state actors destabilize other countries.
Just a week ago, Clinton had described cryptos as having the potential to “undermine” democracies, dollar currency and even nations.
While the apprehension towards crypto in the political domain is quite present, it’s not always the case. This is true as Miami Mayor Suarez had openly declared his inclination towards cryptos quite a few times. Recent instance being Mayor Suarez trying to give free bitcoins to Miami’s citizens.
