Biden Administration has Been Called upon by Hillary Clinton for Putting in Place Crypto Regulation

The US administration under the auspices of President Joe Biden has been called upon by the losing Presidential candidate for 2016 Elections namely Hillary Clinton, the wife of former US President Bill Clinton. She has been urging the US President to make sure that crypto regulations are put in place immediately without wasting any further time. She believes that leaving the matter of regulation hanging in the air would allow rival states such as China and Russia to manipulate technologies to suit their interest and cause havoc upon the US economy.

These days, Hillary Clinton has been pushing the agenda which involves placing crypto regulation in the US. She believes that the rival states, such as China and Russia, have been trying to steal the integrity of the US’s national currency.

Hillary Clinton is the wife of former US President Bill Clinton and had run as a candidate for US President in the 2016 Elections. However, she had to face defeat as her opponent, Donald Trump came out as a successful candidate.

Recently, she was due to record an interview at MSNBC on 23rd November 2021, where she commented on cryptocurrencies. In her MSNBC interview, she commented that blockchain technology has the potential to be manipulated by non-state actors. She was referring to China and Russia to raise an argument that the two rival countries have been trying to usurp the “global reserve status” of USD. She insisted that the US’s digital currency/asset markets need proper regulation and it has to be done forthwith without wasting any further time.

She insisted that US Government needs to realize that Russia and China are capable of manipulating technologies according to their suiting. They are capable of destabilizing any state they want and they are already working towards devaluing the USD. She stressed that there are several crucial questions that remain unanswered and unaddressed by the Biden Administration. She then stated that the US is running out of time and it is important therefore to first take up the matter of crypto regulation.

Clinton opined that the US is in dire need of having in place a new set of crypto rules because existing laws are inadequate. She suggested that the US needs crypto-specific regulations which do not deal with any other thing except for crypto. However, she also stressed that there is a lot to be worked out with regard to the protection of the investors. She pointed out that currently, the crypto market is not favorable for investors. Investors are facing difficulties because malicious actors have created platforms that are exactly the look like authentic platforms.

Similarly, she suggested that scams and ransomware problems are apparent in the face of the digital industry. If these essential issues are not dealt with properly, then US consumers will continue to be victimized by crypto fraudsters.