Former US Secretary of State and Democratic presidential candidate Hillary Clinton has attacked cryptocurrencies. by calling on nations to keep an eye on their rise.
Hillary Clinton was recently discussed at the Bloomberg New Economy Forum in Singapore, where sheseethat the world today faces new challenges: disinformation, artificial intelligence, and cryptocurrencies.
Digital assets have gained the attention of the public because of their nature. “Interesting and quite new”, however. These are threats to the US dollar. and can destabilize the country:
“Another issue that I hope the nation will pay more attention to is the rise of cryptocurrencies. Because what seems like a very interesting and rather novel attempt at mining truly new coins has the potential to undermine the role of the dollar as a reserve currency.”
“Bitcoin is unlikely to replace the dollar as a global reserve currency,” said Marc Chandler, chief market strategist at Bannockburn Global Forex and author of the book “Making Sense of the Dollar” last year. “Supporting the dollar is the largest, deepest and most transparent government bond market in the world.”
Clinton’s opinion It comes after a controversial crypto tax reporting issue. It is part of a $1 trillion infrastructure bill signed into law by US President Joe Biden on Monday. According to the bill, by 2023, “brokers” will be required to disclose the names, addresses, phone numbers, capital gains and losses of clients to the Internal Revenue Service and entities that are being paid with crypto-values. More than $10,000 must reveal the identity of the government forwarder.
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