According to former United States presidential candidate Hillary Clinton, the crypto market is considered a major threat to the global financial system.
In a recent statement against cryptoassets, Clinton called for more attention from the United States regarding the market that can “destabilize nations” with its supply of digital currencies.
Furthermore, the former presidential candidate stated that cryptoassets like bitcoin could “undermine currencies”, and mentioned the dollar as an example. For her, digital currencies should soon take on an important role as a store of value, as the trend is to increase the use of cryptoassets as international remittances and as a means of payment.
“One more area that I hope nation-states will start paying more attention to is the rise of cryptocurrency. What appears to be a very interesting and somewhat exotic effort to mine new currencies to trade with them can undermine currencies. That is, undermining the role of the dollar as a reserve currency, to destabilize nations, perhaps starting with the small ones, but going far beyond”.
Hillary Clinton’s statement was presented recently during a panel discussion at the Bloomberg New Economy Forum event held in Singapore.
Like China, Clinton holds a view on cryptoassets more in line with prohibitionism. However, the United States follows a path almost contrary to the former candidate’s recommendations. By 2021, the country has become a world leader in the mining of cryptossets such as bitcoin.