Russia wants to replace US dollar reserves with digital assets on a long term basis
Last week, Russian President Vladimir Putin said that using cryptocurrencies to settle oil contracts was “a bit early.” Russia’s Ministry of Foreign Affairs (MFA Russia) is apparently considering replacing the US dollar with not just traditional fiat currencies but also digital currencies as part of its de-dollarization campaign. In a Tuesday interview with local news agency […]
The US dollar is not threatened by Foreign CBDCs and stablecoins-Fed vice-chair
Randal Quarles said although considering how stablecoins and CBDC’s are constructed, they could not disturb the US dollar. The Federal Reserve Board of Governors’ vice chair for supervision, Randal Quarles, believes that neither dollar-pegged stablecoins nor digital currencies issued by other central banks are likely to be substantial sources of worry for the US currency. […]