- Oct 25, 2021
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Hillary Clinton Warns Cryptocurrency Poses Risk to US Dollar and Nations’ Stability
Former Democratic presidential candidate Hillary Clinton talked about cryptocurrency Friday during a panel discussion at the Bloomberg New Economy Forum in Singapore.
While addressing a range of new challenges, including disinformation and artificial intelligence (AI), Clinton said, “One more area that I hope nation-states start paying greater attention to is the rise of cryptocurrency.”
The former Secretary of State added:
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 is not the only one seeing that the rise in popularity of cryptocurrency could hurt the U.S. dollar. Former President Donald Trump has said on several occasions that he does not like cryptocurrency because it competes against the U.S. dollar. “I don’t want to have other currencies coming out and hurting or demeaning the dollar in any way,” he
In July last year, global investment bank Goldman Sachs
Legendary fund manager Stanley Druckenmiller
However, some people believe that crypto will not replace the dollar as the world’s reserve currency. Mohamed El-Erian, chief economic advisor at financial services company Allianz,
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