The former IMF chief economist emphasizes cryptocurrencies' growing role in the global underground economy, challenging traditional dollar dominance.
Kenneth Rogoff, former IMF chief economist, warns that cryptocurrencies and geopolitical tensions are eroding the U.S. dollar's global dominance. He argues that critics dismissing cryptocurrencies as worthless are mistaken, pointing to their increasing adoption in the underground economy as a preferred payment method. Rogoff emphasizes that cryptocurrencies have established themselves as a recognized medium of exchange, presenting regulatory challenges for authorities.