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Treasury Secretary Bessent on Crypto's Role in Dollar Dominance
U.S. Treasury Secretary Scott Bessent spoke at Ripple's Swell conference, stating that digital assets could strengthen the U.S. dollar's global dominance. He argued that the power behind reserve currencies has shifted from military strength to technological leadership, with digital assets playing a role in this competition. Bessent highlighted the GENIUS Act, which established a federal regulatory framework for stablecoins, and emphasized the importance of stablecoins in expanding access to U.S. currency in countries with unstable local currencies.