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Policy Series: Why The US Is Falling Behind | Rebecca Rettig, Jake Chervinsky

Empire

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Cryptocurrency and the US Dollar: A Game of Chess

I don't think de-dollarization is going to happen as fast as we are talking about for a variety of different reasons. I think other different parts of the international and global financial system may be undercut first because there are a lot of different efforts out there to do settlement in non-US dollars among various countries. And all that really does is maybe it undercuts the US dollar a little bit. But actually what it does is it weakens our ability to sanction bad actors by cutting them out of swift and stuff like that. So they're definitely paying attention and they definitely see this as an opportunity.

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