TL;DR Breakdown
- Hillary wants protection against crypto manipulation.
- The ex-presidential candidate proposes regulation.
- The United States continues crackdown on crypto.
Regulation in the crypto space has been a consistent tough nut to crack for regulators for the past few years. Asides from the major ills in the crypto sector, entities use digital assets to deplete economies. Reiterating regulating the space, an ex-presidential candidate, Hillary Clinton, has called for regulations against crypto manipulation. In her statement, Clinton mentioned that the United States must act fast against agents who want to destabilize the dollar, mentioning Russia and China.
Clinton proposes regulation to eliminate crypto manipulation
Hillary Clinton said this and other things at the MSNBC TV show anchored by Rachel Maddow. In her statement, Clinton said the United States must act against these countries due to their previous history of manipulating technologies. Giving a list of examples, Clinton pointed at social media, technology websites with digital assets.
Hillary specifically talked about regulating social media against crypto manipulation, which falls under social media and the activities that drive the media. She also mentioned that the United States must look past Russia and China as other non-country elements use crypto manipulation for their good. She said these people aim to destabilize strong countries and eliminate the dollar as the standard reserve currency. This is not Clinton’s first time criticizing digital assets, as she has talked about national security regarding the usage of the assets. Last week, Clinton mentioned that digital assets could eventually displace the dollar as the go-to currency.
The United States continues crackdown on crypto
The Biden-led government has been on top of things on the national level regarding crypto’s risks on a national front. Recently, the DOJ announced that about classifying hack attacks as acts of terrorism. This was after a double ransomware attack at high-profile investment JBS and a subsequent attack at Colonial Pipeline. Biden also announced a new committee that will look into various ransomware attacks and trace payments.
The Treasury Department also announced that digital assets threaten the sanctions of the United States. 2021 has been a trademark year in issues relating to crypto and matters regarding national security. With the United States still at loggerheads with Israel, a massive increase in crypto donations was made to Hamas, a group in the company.
Beforehand, the United States had already branded the group as a terrorist organization. Another news that went round was the issue of Russian Intelligence using digital assets to finance their aim of meddling in elections. These and other issues have been a major concern for the United States regarding crypto manipulation.
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