Wally Adeyemo (Deputy Treasury Secretary of the United States) stated that the US dollar will remain the most important currency worldwide despite increased interest in cryptocurrencies.

Adeyemo stated that while digital assets are a potential opportunity for many sectors of the economy, it also presents challenges. He spoke to CNBC’s Hadley Gamble Tuesday, at the Adipec energy forum, Abu Dhabi, United Arab Emirates.

We know digital assets can be used to illegally transfer money through the financial system. This is something we don’t understand. We believe that we can reduce this risk through collaboration with other countries and by asking digital asset creators to adhere more strictly to anti-money laundering rules.

The decisions Americans make about their investments in America are what will ultimately determine the position of the dollar in the global economy. The reason that people are involved in the dollar-based economy … is because they want to invest in America,” he continued.

Adeyemo claimed it was due policy decisions like the $1 trillion infrastructure packageOn Monday, the law was signed that will help “unlock” the potential of the U.S. economic system and provide investment opportunities to other countries.

“As the economy of the United States grows, there is an opportunity for global growth and the dollar will be the predominant currency worldwide as that happens,” he stated.

He shared his views with James Bullard, President of the St. Louis Federal Reserve earlier in this year. dismissedBitcoin and digital assets pose a grave threat to the dollar’s status as world’s reserve currency.

Russian Central Bank Governor Elvira Nabiullina saidAccording to Reuters last week, it announced that the prototype of its digital ruble platform would be launched in January. Nabiullina stated that Russia will undergo pilot testing before taking a decision about the launch of digital currency.

Nabiullina speaks to CNBC, June 1, 2008. saidAs the economy goes online, she expects digital currencies will play a key role in future financial systems.

Many central banks are creating sovereign digital currencies around the globe. This could encourage financial inclusion and facilitate cross-border transactions.

Adeyemo answered when asked if the US sanctions could be less effective due to the potential for a new digital ruble. “We believe that regardless of whether a digitalruble or any other digital currencies are in place, our sanctions can still have an impact upon their economies simply as the global economic system is still interconnected.”

Russia’s companies still conduct a lot of business all over the globe. He said that a lot of the business done is in dollars and is conducted with American financial institutions. This is due to the fact that the American economy is still the largest economy in the globe.

“As long that that continues, as long that we invest the money that is needed, we will still be able to use our sanction regime to ensure that we stop the illicit financing through the system, as well as to hold those responsible for taking steps not in the national security.

In recent years Washington has placed sanctions against Russia because of a variety reasons, including the poisoning and election interference.

Adeyemo comments are part of a Treasury report from October that suggests there may be an impact on U.S. sanction from cryptocurrency. He reportedly told a Senate committee last month:

— CNBC’s Abigail Ng contributed to this report.