The U.S. government’s efforts to maintain the dollar’s dominance through stablecoin adoption could indirectly benefit Bitcoin. Speaking at the White House Crypto Summit on March 7, U.S. Treasury Secretary Scott Bessent emphasized the administration’s commitment to using stablecoins to secure the dollar’s status as the world’s leading 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 U.S. [dollar] the dominant reserve currency in the world,” Bessent said. He also reiterated the administration’s stance on rolling back previous Internal Revenue Service guidance and regulatory measures seen as harmful to the crypto industry.
