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CNBC: US Dollar May Lose Its Global Dominance Because of Crypto

  • USA after imposing economic sanctions on more than 2 bln people, urged other countries to create a parallel financial system not to be dependent on the US dollar

Cover image via U.Today

In a recently published CNBC article, the IAGS ( Institute for the Analysis of Global Security) director Gal Luft claims that the US, after imposing a slew of economic sanctions on more than two bln people, has urged other countries to create a parallel financial system in order not to be dependent on the US dollar. China, Turkey, Russia, Iran are only some of the members of a burgeoning anti-dollar block.

Remarkably enough, Luft points out that some of these countries are mulling over creating their own state-backed cryptocurrencies due to the rising popularity of digital assets. Earlier, U.Today reported that Iran had finished the draft of a national rial-pegged cryptocurrency.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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