The Secretary of the Treasury of the United States, Scott Bessent, said that the US government would operate Stablecouins to ensure that the US dollar would remain a global global reserve currency during the peak of the cryptocurrency of the White House on March 7.
Bessent repeated the promise of Trump’s administration to end the war with the crypt and undertook to withdraw previous IRS guidelines and penal regulatory measures. Bessent then drew attention to Stablecouins and said:
“We are going to think about the Stablecoin regime and, as President Trump directed, we will stop the USA [dollar] The dominant reserve currency in the world and we will use Stablecouins for this. “
President Trump told the peak that he hopes that the legislators would receive a comprehensive Stablecoin regulatory project to their desk before the August Congress break.
President Trump provides an address to the White House cryptographic peak. Source: Associated Press
The president was also critical of Biden administration for the sale of parts of Bitcoins occupied (BTC), which, as he said, amounted to billions of losses thanks to premature sales.
Many participants of the first peak of the White House cryptocurrency noticed the historical nature of this event, which determines the seismic change in the position of the US government towards the digital assets industry.
Participants of the Crypto Summit summit in the White House. Source: Associated Press
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Stablecouins as a way to extend the hegemony of the US dollar
Excessive stablelecoin, which operate miniature -term tax accounts and cash deposits to support Fiat digital tokens, and thus demand for debt instruments in the US, have been put as a way to extend the dominance of the US dollar.
The Governor of the Federal Reserve Christopher Waller also expressed support for the operate of Stablecouins to give the dollar in February 2024.
Waller argued that the corrosive impact of cryptocurrencies on the share of the American dollar will be alleviated by Stablecoin’s demand.
Treasury Secretary Scott Bessent says that Stablecouins will provide hegemony of the US dollar at the top of Crypto Summit in the White House. Source: Associated Press
In February 2025, Waller repeated his position that Stablecouins could assist maintain the status of the dollar as a global reserve currency by overcoming capital control in foreign countries and increasing the payment rails.
As part of these efforts aimed at using Stablecouins to defend the American dollar, representatives of the American French Hill and Bryan Steil introduced the Stablecoin Act entitled The Stable Act from 2025 in order to determine the comprehensive regulatory framework for Fiat Fiat digital tokens.
Warehouse: UNTABLECOINS: DEEGging, Bank Runs and other risk are circulating
