During the White House Crypto Summit on March 7, Treasury Secretary Scott Bessent confirmed that the US government plans to use stablecoins like $USDC to maintain the dollar’s status as the global reserve currency. He emphasized the Trump administration's commitment to reversing restrictive crypto policies and developing a strong regulatory framework for stablecoins.
President Trump urged lawmakers to pass a stablecoin bill before the August Congressional recess, criticizing the previous administration for selling seized $BTC at a loss. Stablecoins, backed by US Treasury bills and cash deposits, are seen as a tool to boost demand for US debt and reinforce dollar dominance.
Federal Reserve Governor Christopher Waller has also advocated for stablecoins, arguing that they help sustain the dollar’s market share and provide a hedge against capital controls. In line with this strategy, US lawmakers introduced the Stable Act of 2025 to establish clear regulations for dollar-pegged digital assets.
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