U.S. Doubles Down on Crypto and Stablecoins, Says Treasury Secretary

U.S. Treasury Secretary Scott Bessent announced that the country is “going big” on digital assets, signaling a major policy shift under the new administration. In an interview with Bloomberg, Bessent stated that many crypto firms were nearly driven to extinction by previous regulatory pressure, but the current administration is focused on fostering growth while maintaining strict compliance with anti-money laundering (AML) standards.

Bessent emphasized that the U.S. aims to implement the highest regulatory standards for digital assets, particularly stablecoins. He highlighted stablecoins’ growing importance in the global financial system, predicting they could generate up to $2 trillion in demand for U.S. Treasuries in the near term—up from the current $300 billion. This demand could significantly strengthen the U.S. dollar's global influence.

Echoing recent remarks by Tether CEO Paolo Ardoino, Bessent noted that stablecoins like USDT could help reinforce U.S. dollar dominance. Meanwhile, key players such as Fidelity and JPMorgan are reportedly exploring stablecoin initiatives, further validating the sector's mainstream momentum.

The Senate is also advancing key stablecoin legislation, potentially setting the stage for a more robust and regulated digital dollar ecosystem. Beyond stablecoins, the administration is also showing support for Bitcoin. In March, the U.S. established a strategic Bitcoin reserve and is considering acquiring additional BTC, including through government forfeitures.

This policy shift reflects a broader strategy to integrate cryptocurrencies into the U.S. financial framework while preserving economic leadership. With institutional adoption rising and regulatory clarity improving, the U.S. is positioning itself at the forefront of the global crypto economy.