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United States Needs New Law For Cryptocurrency, Hillary Clinton Urges Biden

Former presidential candidate Hillary Clinton has said that the United States authorities need new rules and regulations for this dispensation with passion for cryptocurrency, adding that the present laws leave it open for cryptocurrency.

Clinton said: “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.”

In her opinion,  Clinton wants the Biden administration to regulate the cryptocurrency markets, adding that countries like Russia, China, and non-state actors, could manipulate all kinds of technology to their advantage.

According to her, the United States complacency towards cryptocurrency regulation could destabilize the country as well as the dollar as the world’s reserve currency.

Hillary Clinton, the former Democratic presidential candidate, talked about cryptocurrency Tuesday in an interview with MSNBC.

She elaborated on her crypto statement last week and warned that the technology may be manipulated by countries like China and Russia to undermine the United States.

She stressed “the need to regulate the cryptocurrency markets,” noting that “it’s on the horizon that people are only 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,” the former presidential candidate said, emphasizing:

We are looking at not only states, such as China or Russia or others, manipulating technology of all kinds to their advantage, but we are also looking at nonstate actors, either in concert with states or on their own, destabilizing countries, destabilizing the dollar as the reserve currency.

Clinton opined: “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 further noted: “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.”

Last week, Clinton said: “What looks like a very interesting and somewhat exotic effort to literally my 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.”

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