US democratic presidential nominee Hillary Clinton has been very vocal about her policies throughout the presidential campaign. With less than a month remaining, cryptocurrency enthusiasts are weighing their pros and cons against each candidate and their policies. Both the candidates have proclaimed their support in accommodating fintech industry. When it came to Bitcoin and cryptocurrencies, Clinton has been critical and skeptical in her statements. Let’s look into how Hillary’s policies would affect Bitcoin:
Hillary’s fintech policies:
Even before she received the presidential nomination from the US Democratic Party, Hillary has had set agenda for fintech industries. She has proactively stated that if elected, she would push for reduced regulatory barriers for startups and entrepreneurs.
The Clinton campaign stated:
“We must position American innovators to lead the world in the next generation of technology revolutions – from autonomous vehicles to machine learning to public service blockchain applications – and we must defend universal access to the global, digital marketplace of ideas.”
The campaign also added that Hillary will challenge state and local governments to identify, review and legal and regulatory obligations. This would take away the immunity that protects legacy incumbents against new innovators.
Hillary against China and the East:
Hillary as the secretary of the state has historically intimidated China throughout her term. Be it her stance on International waters or trade agreements, she has always opposed China firmly. What would be instrumental to digital currencies is the trade agreements with China. Just like Donald Trump, Hillary opposes the Trans-Pacific Partnership. She supports trade agreements that would raise wages, increase prosperity, create more jobs for Americans, and protect our security.
“We cannot let rules of origin allow China — or anyone else, but principally China — to go around trade agreements. It’s one of the reasons why I oppose the Trans-Pacific Partnership because when I saw what was in it, it was clear to me there were too many loopholes, too many opportunities for folks to be taken advantage of.”
This means, Hillary would alter trade agreements to tighten US’s hold, which would spell discomfort for China. If Chinese implement unorthodox monetary policies, that would disturb Yuan and we are likely to see heavy movement in Bitcoin market.
Hillary against Wall Street:
On her first speech as the Democratic presidential contender, Hillary took a dig at Wall Street. She tore into CEOs, hedge fund managers, Corporate America — and the Republicans who support them. She believes that wealth centered on Wall Street is detrimental to the economy. With short term investments for high profits and low taxes paid based on their investments, common man is at disadvantage. She believes in long term investments that would open up job opportunities for Americans. She also implores Wall Street to think about the possibilities.
Would these redirected investments on Wall Street result in Blockchain opportunities for firms or would be in the direction of other industries is to be seen.