The project to create a digital dollar, which is very beneficial to the American economy, according to Janet Yellen, could encounter serious difficulties in the face of the emergence of cryptocurrency. Treasury Secretary Janet Yellen believes it is “logical” for central banks to address the issue of creating a digital dollar, including consumer protection issues. “It makes sense for central banks to think about it and I know that the Federal Reserve (Fed) is looking into this,” Janet Yellen said in an interview with the New York Times, describing joint work between the Boston Fed and the Massachusetts Institute of Massachusetts. Technology (MIT). “We have a financial inclusion problem. Too many Americans really don't have access to easy payment systems linked to their bank account. I think that a digital dollar, a central bank digital currency, could help” improve this situation, she said. According to Janet Yellen, this could result in faster, safer, and cheaper payments. The former president of the American Central Bank wonders if cryptocurrency would cause a huge movement of deposits out of banks and into the Fed, “will the Fed be in contact with retail customers, are there financial stability issues, how could we handle money laundering and illicit financing issues,” she asks.