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

  • Alex Dovbnya
    📰 News

    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


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

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.

Cover image via u.today
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About the author

Alex Dovbnya (aka AlexMorris) covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. When he happens to take a break from crypto, Alex delves into cognitive linguistics (metaphors can be fun too!).

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