Clinton calls on Biden administration to regulate cryptocurrency

Rachel Maddow & Hilary Clinton. IMAGE: MSNBC

Former presidential candidate Hilary Clinton has called for the Biden administration to regulate cryptocurrency markets to protect against technological manipulation by Russia, China and others.

In an interview with MSNBC TV host Rachel Maddow, former Secretary of State Hilary Clinton warned that the technology could be manipulated by countries like Russia and China to undermine the United States.

Clinton drew attention to the need to regulate cryptocurrency markets, highlighting “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.”

Clinton’s caution extended to “technology of all kinds”, which states and non-state actors could use to destabilize countries and the dollar as the reserve currency of the world. She later added that current laws and frameworks were not adequate enough.

This isn’t the first time Clinton has raised concerns over the ‘risks’ that cryptocurrencies pose to national security. Just last week, Clinton warned that cryptocurrencies could potentially undermine the U.S. dollar, stressing that in the hands of wrong people — crypto could be direct threats to nation-states.

Clinton has increased the pressure on Biden’s administration to take action. “There are so many big questions that the Biden administration must address. I just don’t think we have much time,” she said.

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