Former Democratic presidential candidate Hillary Clinton took a swipe at cryptocurrencies, saying they have the potential to weaken entire countries eventually.
The former Democratic presidential candidate Hillary Clinton took aim at cryptocurrencies, saying they have the power to weaken entire countries eventually. Clinton said via video during a panel discussion at the Bloomberg New Economic Forum on Friday in Singapore that governments worldwide faced a range of new challenges, including disinformation and artificial intelligence. Authorities around the world have expressed concerns regarding the dangers of cryptocurrencies.
“Mining new coins to trade with them has the potential for undermining currencies.”
“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 and somewhat exotic effort to 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, for destabilizing nations, perhaps starting with small ones but going much larger,” Hillary Clinton noted during the conference. Clintons comments came while criticizing Russian President Vladimir Putin, accusing him of deploying “a very large stable of hackers and those who deal in disinformation and cyberwarfare.”
Governments around the world express concern regarding cryptocurrencies.
As reported earlier, Indian Prime Minister Narendra Modi addressing the Sydney Dialogue via video conference on Thursday said that democratic nations must work together to ensure cryptocurrency does not end up in the wrong hands and spoil our youth. Indian PM spoke about cryptocurrencies and Indias digital revolution during the conference. “We face new risks and new forms of conflict across diverse threats, from sea-bed to cyber to space. Technology has already become a major instrument of global competition and key to shaping the future international order,” Indian Priminister said.