US Federal Reserve Chair Jerome Powell said on Monday that the United States public needs to understand the risks behind Bitcoin and other cryptocurrencies, even as the central bank itself is studying the potential costs and benefits of a digital dollar. Al Jazeera quotes Powell as saying that given the dollar’s critical role as the world’s leading reserve currency, the Fed has “an obligation to be on the cutting edge” of understanding the costs and benefits of a central bank digital currency,” but that there was no need for the Fed to rush or “be first to market”. Powell also highlighted the risks of cybercurrencies, including cyberattacks, money laundering and “terrorist” financing.