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Hillary Clinton warns of the “manipulation” of cryptocurrencies by China and Russia



Former Secretary of State Hillary Clinton has said that cryptocurrency markets need stricter regulations to protect themselves from technological tampering by Russia, China, and others.

Former presidential candidate Hillary Clinton has warned that the United States must act to regulate cryptocurrencies as states and non-state actors “manipulate” these and other technologies to destabilize the dollar.

Emphasizing "the need to regulate the cryptocurrency markets", she noted that "they are on the horizon and people are just starting to get into it". She further said:

“We are not only dealing with states like China or Russia or others who manipulate technologies of all kinds to their advantage, but also with non-state actors who, either in cooperation with states or on their own, destabilize countries and destabilize the dollar as a reserve currency. ”

She paid particular attention to the question of how social media platforms used to influence elections through disinformation could be combined with cryptocurrency markets to help state and non-state actors destabilize other countries. While it did not go into detail, possible ways it could do this are through manipulating markets, generating hype, or even causing a financial crash through social media troll farms.

Just last week, Clinton said that cryptocurrencies could potentially undermine the U.S. dollar. She warned that "in the wrong hands or in alliances with the wrong people" cryptocurrencies could pose a direct threat to nation-states and global markets. Last week Clinton said:

“What looks like a very interesting and somewhat exotic attempt to literally mine new coins in order to trade them has the potential to undermine currencies, undermine the role of the dollar as a reserve currency, destabilize nations, perhaps starting with small, but much bigger. "

Over the past few weeks, Clinton has spoken out against the problems cryptocurrencies can pose for the global dominance of the U.S. dollar and has put pressure on the Biden administration to take action.

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