Digital Assets Could Pose a Threat to US Dollar Dominance in the Future: United States Federal Reserve

Digital assets could pose a threat to the supremacy of the US dollar, according to a new report posted on the Federal Reserve’s website.

Researchers at the Fed say that a “shifting payments landscape” and the “rapid growth” of both private sector and government-sanctioned digital currencies could reduce reliance on the dollar.

 

Despite these concerns, the Fed doubts that digital assets could ever completely topple the world’s leading fiat currency.

Fed Chairman Jerome Powell said last month that he has no plans to outlaw cryptocurrencies.

 

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