Hilary Clinton, veteran politician and leader of the United States, fears the adverse Chinese and Russian impact on the USA through cryptocurrency. In connection to this fear, she said that the government should look into cryptocurrency regulations seriously. Not doing so will lead to a serious threat to US national security.
Clinton’s fears do not emerge from the void. Much has happened over the last few years for the United States to be careful about, especially in the realm of cyberattacks. It is no news that Russian hackers and cyber attackers routinely break into secure United States servers. It is also known that Chinese spyware has been a subject of debate and laws over the past few years. Many Chinese companies have been banned from continuing business in different countries, not only the United States.
The main fear of Clinton is something said by many other regulators and politicians. They fear that an unregulated crypto sector will disrupt the value and validity of the US dollar. The fear has become especially acute following the increasing real-world application of Bitcoin, where people can now buy everything from coffee to houses in it. Players are accepting salaries in Bitcoin, and entire clubs are managing their own Bitcoin funds. For all their merits, Bitcoin and other cryptocurrencies seem to pose a threat to the validity and prevalence of national currencies. Hilary Clinton is among the many senior politicians from around the world who feel this way. Pro-crypto leaders, however, believe that crypto can grow in tandem with the national economy.