Hillary Clinton: Cryptocurrencies are undermining national stability, impacting the status of the US dollar, and require a new legal framework

Former U.S. Secretary of State Hillary Clinton appeared on MSNBC this Wednesday for an interview, during which she shared her current views on cryptocurrency and urged the Biden administration to take action promptly.

Cryptocurrencies in Urgent Need of Regulation

During an interview with MSNBC, Hillary Clinton stated that China and Russia are leveraging social media, technology platforms, and cryptocurrencies to profit their own countries, even manipulating elections in various nations.

"We need to establish new rules for the information age we are living in today, as the current laws or frameworks are inadequate in addressing these issues," said Hillary Clinton.

Hillary Clinton also emphasized the importance of regulating the combination of cryptocurrencies with social media, manipulation of algorithms, and the accumulation of large sums of money through blockchain technology.

Furthermore, these behaviors are not limited to nations, as Hillary Clinton believes that non-state actors, whether through collaboration with nations or acting independently, are undermining national stability and the status of the US dollar as a reserve currency.

In the concluding remarks of the interview, Hillary Clinton also warned that the Biden administration is running out of time, with many critical issues that need urgent resolution.

Cryptocurrencies Are Weakening the US Dollar

The assertion that cryptocurrencies are impacting the US dollar is not new, as Hillary Clinton previously mentioned similar views during the Bloomberg New Economy Forum on the 19th of this month.

Cryptocurrencies are intriguing and exotic, but they also pose a potential threat to the position of the US dollar.

Hillary Clinton added that if cryptocurrencies fall into the wrong hands or ally with the wrong individuals, they could pose a direct threat to many countries and the global currency market.