Hillary Clinton reveals dark potential of crypto

RT.com
19 Nov 2021, 23:42 GMT+10

Cryptocurrencies have the potential to weaken and destabilize entire nations over time, says Hillary Clinton, former US secretary of state and Democrat presidential candidate.

Clinton, who was addressing a panel on Friday at the Bloomberg New Economy Forum in Singapore, called for a joint effort by nation-states to monitor the rise of the asset class. She warned that cryptocurrencies could possibly undermine existing fiat currencies and the US dollar's role of being the reserve currency

"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," she said.

Clinton's comments come amid news of a controversial crypto tax reporting requirement that was part of the $1 trillion bipartisan infrastructure bill signed into law by US President Joe Biden on Monday. According to the bill, from 2023 brokers will need to disclose customers' names, addresses, phone numbers, capital gains, and losses to the Internal Revenue Service. Entities receiving crypto payments worth more than $10,000 will have to reveal the sender's identity to the government.

For more stories on economy & finance visit RT's business section

(RT.com)

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Mexico Star.

More Information

null in null

Lifestyle

Section

Army's cycling expedition covers 312 km from Nyoma to Galwan in tribute to fallen "bravehearts"

Leh (Ladakh) [India], July 2 (ANI): GOC Trishul Division's Galwan Cycling Expedition team covered a distance of 312 km from Nyoma to...

Syrians in Trkiye look homeward as tensions ease

by Burak Akinci ANKARA, July 1 (Xinhua) -- Yousouf Al Sharif, a 35-year-old furniture worker from Syria living in Ankara, is thinking...

Central Administrative Tribunal holds RCB "responsible" for Bengaluru stampede

Bengaluru (Karnataka) [India], July 1 (ANI): The Central Administrative Tribunal (CAT) on Tuesday stated that it was the Royal Challengers...

Israel military chief warns cabinet against expanding Gaza operations over hostage safety

Tel Aviv [Israel], July 1 (ANI): Israel's military chief, Lt Gen Eyal Zamir, has advised cabinet ministers against ordering the Israel...

Reopen "deliberately buried" terror cases, provide jobs to victims' kin: J-K LG Sinha directs Deputy Commissioners, SSPs

Srinagar (Jammu and Kashmir) [India], July 1 (ANI): Jammu and Kashmir Lieutenant Governor Manoj Sinha on Tuesday chaired a high-level...

Jindal Foundation Launches "Hospital on Wheels" in Patratu, Jharkhand: A Game Changer for Rural Healthcare

Jindal Steel & Power Limited Patratu (Jharkhand) [India], July 1: In a transformative step toward improving healthcare access in...

International

Section