U.S. Treasury Secretary Scott Bessent said Wednesday that President Donald Trump’s pro-crypto stance, particularly toward stablecoins, will strengthen the U.S. dollar’s global dominance rather than threaten it.
“Stablecoins could reinforce dollar supremacy because… they could end up being one of the largest buyers of U.S. Treasurys,” Bessent said in a video interview posted to X. He added that crypto may ultimately serve to ‘lock in’ the dollar’s global leadership in the coming financial era.
Bessent’s remarks come just one day after the U.S. Senate passed historic stablecoin legislation, setting the stage for potential bipartisan action. The House of Representatives must now decide whether to align with the Senate’s version or push forward its own bill, which was advanced by the House Financial Services Committee in April.
Policy Shift Reflects New View on Crypto’s Role in Global Finance
The comments from Bessent underscore a significant shift in the Treasury’s view of digital assets, framing stablecoins not as a threat, but as a vehicle to boost demand for U.S. government debt and expand dollar-based liquidity in global markets.
As stablecoin issuers typically back their tokens with U.S. Treasury securities, the adoption of dollar-pegged digital assets could reinforce America’s financial footprint—even in decentralized ecosystems.
Bessent’s endorsement aligns with President Trump’s broader pivot toward pro-crypto regulation, a stance that increasingly contrasts with more skeptical positions taken under previous administrations.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/trumps-crypto-push-will-reinforce-dollar-supremacy-says-treasury-secretary-bessent/