Stablecoins Can Strengthen Dollar Dominance, Says U.S. Treasury Secretary Bessent
U.S. Treasury Secretary Scott Bessent asserted that stablecoins will solidify the dollar's global dominance, countering skeptics who view crypto as a threat. Stablecoins could become major buyers of U.S. Treasurys, reinforcing dollar supremacy. The comments follow the Senate's passage of a landmark bill regulating dollar-backed stablecoins, which President Trump hailed as positioning the U.S. as the leader in digital assets.
Bessent emphasized that digital assets represent one of the most significant financial phenomena, long overlooked by governments. The crypto industry's legislative win underscores growing institutional recognition. The House now faces a choice between the Senate's bill and its own version before the GENIUS Act reaches the President's desk.
