Can Crypto Destabilize Nations? Hillary Clinton believes so

The ex-Democratic presidential candidate against Trump, Hillary Clinton, recently picked a rather conservative stance about crypto, levying the industry as a threat to global economic stability. She spoke remotely at the Bloomberg New Economy Forum on Friday in Singapore, highlighting exclusive challenges that global governments are currently dealing with, including disinformation and artificial intelligence. Furthermore, Clinton put special emphasis on cryptocurrencies under these categories, claiming that they hold the potential to destabilize entire nations. According to Clinton, the decentralized market may take over entire economies, by starting small but gradually overpowering all aspects of a centralized system.

“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”, said Clinton.

Hillary Criticizes Russian Government for employing hackers

Hillary also accused Russian President, Vladimir Putin, of employing “a very large stable of hackers and those who deal in disinformation and cyberwarfare”. Back in 2017, Clinton had already raised suspensions against the Russian authorities, claiming that they had interfered with her candidacy by hacking into her campaign’s internal emails and later coordinating their release on WikiLeaks.

“With his oligarchic coterie he has utilized many non-state actors to personal as well as nationalistic goals, and I think that’s going to become a greater and greater threat”, she added.

However, Hillary is not the first official to blame the Russian government for having their hands dirty with the dark web. Earlier this June, US President, Joe Biden warned the Russian President that any breaches from Russia into the US infrastructure and databases will be cause for retaliation. While the Russian government did reciprocate, showing loyalty towards the US by commissioning a tracing system to track cryptocurrencies and analyze behaviors and movements of traders to decrypt their identities. Nevertheless, despite maintaining an alliance, both countries continue to have disputes.