The US push to maintain the dollar’s global dominance through stablecoin adoption could have unintended benefits for Bitcoin as it emerges as a potential national reserve asset.
During the White House Crypto Summit on March 7, US Treasury Secretary Scott Bessent said the American government would use stablecoins to ensure the US dollar remains the world’s global reserve currency.
“We are going to put a lot of thought into the stablecoin regime, and as President Trump has directed, we are going to keep the US [dollar] the dominant reserve currency in the world,” Bessent said.
The treasury secretary also repeated the Trump administration’s promise to end the war on crypto and committed to rolling back previous Internal Revenue Service guidance and punitive regulatory measures.
President Trump delivers address to White House Crypto Summit. Source: The Associated Press
The comments came