Congress Should Welcome Cryptocurrency Competition
Welcoming a competitive market for currencies would strengthen the dollar today and preserve its status as the world’s reserve currency for tomorrow.
As cryptocurrencies have become more popular, members of Congress have become increasingly concerned about whether they might threaten the dollar’s status as the world’s reserve currency. To the contrary, the coexistence of cryptocurrencies is beneficial to the dollar. Recognizing this fact and welcoming a competitive market for currencies would strengthen the dollar today and preserve its status as the world’s reserve currency for tomorrow.
Read the full report on Cato.org here.