Treasury's Bessent sees crypto as America's next tool for keeping the U.S. dollar on top
Speaking at Ripple's conference, the U.S. Treasury Secretary said the SEC and CFTC action could help fill the gap left by the Clarity Act's failure, while curbing crypto debanking.
Source: CoinDesk
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DW NOTE
Bessent frames U.S. stablecoin regulation as a tool for sustaining dollar dominance by channelling demand into Treasuries — which is plausible when yields are 2%. At 5%, that pitch sells itself. The real question is whether Washington thinks crypto legitimacy matters more for reserve currency status than the $1.8 trillion deficit that undermines it.