US Intelligence Warns Of Cryptocurrency Threat

US intelligence has warned that the development of cryptocurrencies and artificial intelligence will destabilize the situation in the world.

April 9, 2021 | AtoZ Markets The US intelligence community fears the formation of an unpredictable world. It is reported by Bloomberg with reference to the National Intelligence Council.

It is noted that the rapid development of cryptocurrencies and artificial intelligence technologies in the coming decades will leave the world without a leader and make it “unstable”. Experts believe that existing institutions and systems are unable to respond to global challenges.

For example, the council believes that the US dollar and euro will face competition from cryptocurrencies such as Bitcoin.

“Privately issued cryptocurrencies can complicate the conduct of monetary policy by reducing countries’ control over their exchange rates and money supply,” the National Intelligence Council said.

Artificial intelligence will exacerbate the world’s political and financial instability. The public and private sectors are expected to use technology for cognitive manipulation and social polarization.

This is not the first time US intelligence has sounded the alarm over cryptocurrencies. At the end of 2020, the director of US National Intelligence John Ratcliffe wrote a letter to the chairman of the US exchange regulator Jay Clayton. In it, he expressed concern about China’s influence on cryptocurrencies.

Ratcliffe’s letter prompted the US Securities and Exchange Commission to loosen control over US crypto companies. This decision was due to the desire to regain a competitive advantage, according to The Washington Examiner.

In Russia, the regulation of the crypto market is also not slow. In mid-February, Rosfinmonitoring presented the “Transparent Blockchain” development to Russian President Vladimir Putin. The technology is supposed to help track cryptocurrency movements.

Think we missed something? Let us know in the comment section below.

Share Your Opinion, Write a Comment