US will use stablecoins to ensure dollar hegemony — Scott Bessent

President Trump and Scott Bessent both called for a comprehensive regulatory framework on stablecoins and a clear regulatory environment.

United States Treasury Secretary Scott Bessent said the US government will use stablecoins to ensure that the US dollar remains the world’s global reserve currency during the White House Crypto Summit on March 7.

Bessent reiterated the Trump administration’s promise to end the war on crypto and committed to rolling back previous IRS guidance and punitive regulatory measures. Bessent then turned his attention to stablecoins and said:

President Trump told the summit that he hopes lawmakers will get a comprehensive stablecoin regulatory bill to his desk before the August Congressional recess.

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