Hillary Clinton has called cryptocurrency dangerous for countries

The former US Secretary of State believes that digital assets can destabilize the dollar's potential

21.11.2021 - 07:35

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What’s new? Former Democratic presidential candidate and former US Secretary of State Hillary Clinton has criticized cryptocurrencies, adding that they have the potential to weaken entire countries. This is reported by the Bloomberg news agency.

Information on the Bloomberg website

What is Clinton warning against? During a panel discussion at the Bloomberg New Economy Forum, she stated that governments around the world are facing a range of new challenges regarding digital assets.

“One more area that I hope nation-states start paying greater attention to is the rise of cryptocurrency. [...] because what looks like a very interesting effort to literally mine new coins 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,” said the former Secretary of State.

Who opposed the opinion of the former Secretary of State? Cryptocurrency community member Matt Odell said that Clinton is trying to shift responsibility for the dollar's weak position to a relatively new industry.

“It's like blaming lifeboats for the Titanic sinking rather than the ship designers or crew,” he said.

Book author Preston Pysch holds a similar view. He believes that the current situation is to be blamed on the monetary regulators and Congress, which have been pursuing ineffective policies for a long time.

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