PANews reported on May 25 that according to Bloomberg, Kenneth Rogoff, former chief economist of the International Monetary Fund (IMF) and member of the Federal Reserve Committee, said in an interview that geopolitical tensions and the growing influence of cryptocurrencies are weakening the global status of the US dollar.

Kenneth Rogoff believes that critics who believe that cryptocurrencies are just scams and worthless are completely wrong. "The view that there is no 'fundamental value proposition' in cryptocurrency transactions is wrong." One of the main markets for the US dollar is the global underground economy, and in the past, the preferred payment method for such transactions was the US dollar, but now the preferred payment method is cryptocurrency. Cryptocurrency provides a recognized medium of exchange, which is a value proposition. Even if the government strictly regulates cryptocurrencies, it will still face major challenges in controlling the underground economy. Therefore, Kenneth Rogoff believes that "cryptocurrencies have value." The great difficulty that authorities will face in tracking gray market cryptocurrency transactions means that cryptocurrencies "are not worthless."