Former presidential candidate Hillary Clinton says cryptocurrencies can weaken the dollar while interesting and strange, but have strong potential to destabilize the United States. She speaks:
“What looks like a very interesting and strange undertaking … has the potential to undermine the currency, undermine the role of the dollar as a reserve currency for destabilizing countries.”
She added that cryptocurrencies could become a direct threat to countries if cryptocurrencies get into the wrong hands:
“There is a whole new kind of activity that can be extremely destabilizing, either in the wrong hands or in conjunction with the wrong people, that could pose a direct threat to many of our nations and certainly to the global foreign exchange market.”
With that, Clinton appears to be on the same side as President Biden, whose signing of a multi-million dollar infrastructure bill shows that he is serious about the national security risks posed by cryptocurrencies. The former presidential candidate seems to share some things about cryptocurrencies with former President Donald Trump, who said that “Bitcoin is a scam” and that it is just another currency that competes with Bitcoin. Throughout 2021, President Biden kicked off Clinton’s comments by outlining crypto-related national security issues, and we even saw the US Department of Justice announce that it was ransomware due to many ransomware attacks, including the one on JBS and the Colonial Pipeline.
President Biden has set up a ransom task force with the express aim of combating cyberattacks and tracking ransom payments in cryptocurrencies. Concerns about cryptocurrencies and national security are justified as there is ample evidence of how bad actors can leverage this technology. Hamas even admitted that BTC donations skyrocketed following conflicts with Israel. Andrew Anglin, the founder of the neo-Nazi network, received BTC worth 5 million in 2017.