Ex-Democratic presidential candidate, Hillary Clinton, believes cryptocurrencies pose threat to the role of the US dollar as the reserve currency. Speaking at the Bloomberg New Economy Forum, Clinton said she hopes "nation-states start paying greater attention" to the rise of cryptocurrencies.
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"...I hope nation-states start paying greater attention to, is the rise of cryptocurrency, because what looks like a very interesting and somewhat exotic effort to literally mine 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...," she said.
Clinton also added that cryptocurrencies can destabilize nations, starting smaller ones. She has not clarified what nations and how would be affected by the downside of the cryptocurrency market though. In October 2018, former President of the United States, Bill Clinton, urged financial regulators to give up excessive control of the cryptocurrency industry. He added that governments can simply stifle this area if they increase the pressure on fintech projects.
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