Former Secretary of State Hillary Clinton is urging the Biden administration to adopt a sensible regulatory framework for crypto.
In a new interview with MSNBC’s Rachel Maddow, Clinton says that the information age requires new rules to meet the needs of the era.
“Our current laws, our framework, is just not adequate for what we’re facing, and there are a number of very good ideas about how to both apply existing laws and to fill the gaps that exist…
We have to start with how we create a framework. We should work in concert with our friends in Europe who are also looking at a lot of these issues to try to come up with sensible solutions that would be the equivalent of regulation in the information age.”
At a Bloomberg panel last week, Clinton said that crypto has the potential to negatively impact the US dollar and threaten the stability of small and large nations.
The 2016 Democratic Party presidential nominee now says that implementing crypto regulation is a potential solution.
“I want to mention one other thing that is on the horizon that people are only beginning to pay attention to and that’s the need to regulate the cryptocurrency markets because imagine the combination of social media, the algorithms that drive social media, the amassing of even larger sums of money through the control of certain cryptocurrency chains.
We’re looking at not only states such as China or Russia or others manipulating technology of all kinds to their advantage. We’re looking at non-state actors either in concert with states or on their own destabilizing countries, destabilizing the dollar as the reserve currency.”
Clinton is calling on the White House to take action.
“There are so many big questions that the Biden administration must address.
I just don’t think we have much time and therefore I hope from everything I’m hearing from them that that’s exactly what they’re going to try to do.”
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