Fed Chairman: The U.S. should be cautious about digital currencies

April 28, local time, at a news conference held by Federal Reserve Chairman Colin Powell, a reporter asked Powell about the risks of digital currencies and why the United States is slowing down in this area.

Mr Powell said the US was working on a rigorous programme to understand the technical and policy issues involved.

Powell says the dollar is the world’s reserve currency, which means it is much more used in transactions around the world than in other currencies.

He said there was no need for the US to act in a hurry on the digital currency, and it was more important to be careful and do the right thing.