US Treasury Secretary: Crypto Leadership Strengthens Dollar Dominance, Stablecoins Expand US Treasury Secretary Demands US Treasury Secretary Scott Bessent said at Ripple's Swell conference that global reserve currency dominance is changing from a military umbrella to a "technological umbrella", positioning US leadership in digital assets as a critical tool for strengthening the dollar's global position; Not that over 90% of 180 stablecoins are in US dollars and heavies. Bessent emphasized that the stable expansion of the emerging markets directly drives the demand for government debt and serves as an important source of financing for the treasury; Addressing the failure of Congress to pass the Clarinsty Act, Bessent pledged to leverage the blessed power of the Treasury alongside the SEC and the CFTC to promote administrative inclusion and establish regulatory watchdogs to prevent the recurrence of encryption. link