The Biden administration must address the potential threat that cryptocurrencies pose for the dollar status as the reserve currency, Hillary Clinton said during an interview with MSNBC TV. The former presidential candidate highlighted other countries such as China or Russia are "manipulating technology of all kinds to their advantage."
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"I want to mention one other thing that is on the horizon that people are only beginning to pay attention to, and that is the need to regulate the cryptocurrency market," Clinton said.
She also noted the US is also facing non-state actors, either in concert with states or on their own, "destabilizing countries, destabilizing the dollar as the reserve currency." Her warning comes just a week after she said that 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.
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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