Former U.S. Secretary of State Hillary Clinton thinks cryptocurrencies could threaten the dominance of the US dollar and the stability of many nations.
Appearing in a Bloomberg panel to discuss “the new global order,” Clinton speaks on a wide variety of topics ranging from trade policy to foreign relations with China and Russia.
The 2016 Democratic Party presidential nominee predicts that “the rise of artificial intelligence” will threaten nation-states and multinational corporations.
She also believes crypto could have a negative impact on the US dollar and pose a threat to the stability of small and large nations.
“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 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, for destabilizing nations, perhaps starting with small ones but going much larger.”
Clinton also appears to suggest that China’s blanket ban on all crypto-related business activities is a wise approach.
“It appears as though China is going to prevent outside technology payment systems, like the cryptocurrency development, from playing a big role inside China, because I think they recognize – given their nationalism – perhaps earlier than other nations in the US, Europe, elsewhere, that this could be a direct threat to sovereignty.
So when we’re talking about making decisions and trying to be strategic and building alliances, there’s a whole new layer of activity that could be extremely destabilizing, and, in the wrong hands or in alliances with the wrong people, could be direct threats to many of our nation-states and certainly to the global currency markets.”
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