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Scorched earth crypto legislation through enforcement is likely the worse US regulatory policy error ever made. As cash becomes CBDC, we'll make any value transferable as a currency, to be denominated in fiat of user's choice, meaning fiat no longer needed
Fiat's primary draw is two-fold:
1) It cures the liquidity, fungibility and portable ailments that plagued direct physical barter, and
2) Countries only allow their national fiat to be used to pay their mandatory taxes.

#P2PEconomy addresses 1), leaving only 2 as a use for cash
Those skilled in arts of wealth maintenance, investment mgmt realize that fiat is the most expensive asset to hold. It's:
1) Taxed the highest
2) debased the most (inflation)
3) has the lowest returns
Why hold fiat cash when you can spend assets/commodities directly via VeDeFi?
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