Scott Bessent Thinks Stablecoin could Reinforce the U.S. dollar’s Global Dominance Rather than Threaten It

US Treasury Secretary Scott Bessent Publicly said that cryptocurrencies, especially stablecoins, could strengthen the world domination of the US dollar rather than threatening it. In a video interview published on X On June 18, 2025, Bessent argued that the Stablecoins, which were generally set to the US dollar, could become important buyers of US treasury bills, thus increasing the demand for an American government debt and strengthening the position of the dollar in the world economy.

He pointed out that this could “lock” the supremacy of the dollar, especially since stablecoins facilitate transactions based on the dollar in the world, as in Nigeria, without requiring physical dollars. Bessent’s remarks align with the president Donald Trump Position Pro-Crypto and one day came after the American Senate adopted the historic legislation of Stablecoin, the GeniusOn June 17, 2025. He also criticized the Biden administration for trying to stifle cryptographic innovation, suggesting that the adoption of digital assets is essential to maintain American financial leadership.

The conviction of Scott is that cryptocurrencies, in particular stablecoins, will strengthen the supremacy of the US dollar provides important implications for global finance, geopolitics and domestic policy. StableFixed at the US dollar, encourage world users to hold and transform into sustained digital assets of a dollar. Bessent underlined in his interview of June 18, 2025, X that stablecoins could become major buyers of American treasury bills, increasing the demand for American debt and strengthening the role of the dollar as a global reserve currency.

This could extend the domination of the dollar in the emerging markets (for example, Nigeria, as noted in Besse), where stablecoins facilitate transactions based on dollar without physical currency, reducing dependence on local currencies and central banks. A stronger dollar strengthens the influence of the United States on world trade, the application of sanctions and financial systems, in the back of nations like China to promote alternatives (for example, the digital yuan).

Crypto as an American financial actor

Bessent’s point of view is aligned with the PRO-CRYPTO pivot of the Trump administration, highlighted by the law on engineering (adopted on June 17, 2025), which regulates stablecoins and encourages innovation. This contrasts with the perceived hostility of the Biden administration towards the crypto, which Bessente criticized. By integrating crypto into the American financial system, the United States could attract investments, talents and blockchain infrastructure, potentially creating jobs and promoting a new economic sector focused on technology.

The regulation of the stablescoin ensures the transparency and support of the reserve, the attenuation of risks such as those observed in past failures (for example, terrausd), which could stabilize markets and strengthen confidence. Stablecoins bypass traditional banking rails, potentially reducing the role of commercial banks in payments and sending of cross -border funds. This could put pressure on banks to innovate or lose market share. While stablecoins can lock demand in dollars, they could complicate Federal reserve Check the money supply if digital dollars proliferate outside traditional channels.

The United States must balance innovation with surveillance to prevent illicit use (for example, money laundering), which could otherwise undermine the credibility of the dollar. Stablecoins allow non -banished populations in developing countries to access financial systems based on a dollar via smartphones, to promote inclusion but also to link these economies to American monetary policy. Increased dependence on the stablecoins supported by a dollar could deepen global dependence on the US economy, potentially exacerbating vulnerabilities to policy changes or American sanctions.

Figures like Bessent, Trump and Crypto Advocates (for example, publications on X celebrates the law on genius) consider crypto as a tool to modernize finance, stimulate American competitiveness and lock the supremacy of a dollar. They argue that sparks amplify the scope of the dollar without undermining its value. Traditional economists and regulators (for example, some federal reserve officials) fear that the crypto will be able to destabilize markets, escape monetary policy or allow illegal activity. They wonder if the Stablecoins really strengthen the dollar or simply move control to private transmitters like Tether or Circle.

In June 2025, Tether (USDT) and USD Coin (USDC) Dominate the Stablecoin markets, with more than $ 150 billion in traffic, by web sources, highlighting their economic weight but also regulatory concerns concerning the transparency of reserves. The Trump administration, with Bessent as secretary of the Treasury, crypto champions as part of a broader program of deregulation and innovation. The adoption of the Genius Act reflects the support of the GOP for the integration of the crypto into American finance, as we can see in articles X from pro-Trump accounts renting the movement.

Many Democrats, including Biden-Ere Regulators defend more strict monitoring, citing consumer protection and systemic risks. Some, like the senator Elizabeth Warrencalled Crypto a refuge for crime, creating a partisan division on politics. The adoption of the Bipartisan Senate of the Act on Engineering (June 17, 2025) suggests a certain convergence, but the debates on the application and the scope persist. Cryptographic purists on X and elsewhere argue that cryptocurrencies should question the state controlled currencies, including the dollar, allowing decentralized finances (DEFI). They consider the centered vision on the dollar of besing as the revolutionary potential of cryptography.

The figures of Bessente and the establishment see crypto as a tool to be extended, and not to disrupt, the financial power of the United States. It aligns with Wall Street Interests (for example, Blackrock’s Crypto ETF) that seek to integrate digital assets into existing systems. The libertarian camp fears that the stablecoins, supported by American policy, can centralize the cryptographic markets, while statistics fear that the non -regulated defect can undermine the stability of the dollar.

Bessente’s vision positions the United States to direct the economy of cryptography, forcing experiences in Digital Yuan from China and the cryptography of Russia to escape sanctions. X The publications of Crypto analysts note that the domination of stable stables could marginalize rival digital currencies. Countries that adopt the crypto (for example, El Salvador’s Bitcoin experience) can withstand the sustained stablecoins of a dollar, fearing economic subordination, while others adopt them for stability and access.

Stablecoins could improve the application of American sanctions by following the dollar flows, but parts focused on confidentiality (for example, Monero) could allow escape, deepening global tensions. The conviction of Bessent according to which the crypto will see the supremacy of a dollar signals a strategic adoption of digital assets to maintain American financial domination. The implications include a stronger dollar demand, economic growth through innovation and an improved geopolitical lever effect, but also risks such as banking disturbances and regulatory challenges.