Scott Bessent: US Will Use Stablecoins to Strengthen Dollar Dominance

US Treasury Secretary Scott Bessent said the US government intends to use stablecoins to maintain the dollar's status as the world's leading reserve currency. He made this statement on March 7 at the White House Cryptocurrency Summit.

Bessent reaffirmed the Trump administration's commitment to ending the "war on cryptocurrencies" and promised to review previous IRS guidance and reverse repressive regulatory measures.

He then touched on the topic of stablecoins, emphasizing:

"We will take a serious look at the stablecoin regime and, as President Trump has directed, we will support the dollar as the world's dominant reserve currency by using stablecoins to do so."


Many participants at the first-ever White House crypto summit noted the significance of the event, which symbolizes a dramatic U-turn in the U.S. government's stance on digital assets.