Get Our FREE Newsletter

Sign Up

Regulate crypto to stop manipulation by Russia and China, Hillary Clinton says

Spread the love

Clinton’s comments on digital currencies were an extract from a Nov. 24 interview with MSNBC TV news host Rachel Maddow, where they discussed the manipulation of social media platforms by certain nations.

Her warning was aimed at all kinds of tech innovations, which she said states and non-state entities could take advantage of to destabilize countries and the dollar as the reserve currency of the world. She stated:

Although Clinton didn’t mention any pattern with which these manipulations can occur, some potential use cases could be via manipulating markets, manufacturing hype, or even engineering a financial crash through social media troll farms.

Several nations have recently resorted to using or at least considered using cryptocurrency to bypass economic sanctions from the United States. North Korea, in particular, has used cryptocurrency to fund its nuclear weapons program. The country used privacy coins and various other methods to avoid detection.

Similarly, the Iranian government has also openly spoken in favor of cryptocurrency. The commander of the Islamic Revolutionary Guard Corps, Saeed Muhammad, called specifically for Iran to use cryptocurrency to evade sanctions in early 2020.

Recently, Clinton came out to speak against the problems that cryptocurrency can cause for the US dollar’s global dominance. She opined at the Bloomberg New Economy Forum in Singapore on Nov. 19 that while cryptocurrencies are an “interesting” technology, they can also have negative effects on the United States and other countries, “perhaps starting with small ones but going much larger.”

Continue reading on BTC Peers

This post was originally published on this site