Scott Bessent says digital assets can preserve dollar global leadership

United States Treasury Secretary Scott Bessent stated that digital assets could help bolster the global dominance of the U.S. dollar. CoinDesk Markets and bloomingbit both reported that Bessent spoke at Ripple's Swell conference alongside Ripple Chief Executive Officer Brad Garlinghouse. According to CoinDesk Markets, Bessent argued that while global reserve currency status historically relied on military power, global influence is increasingly moving toward technological leadership. [1][2]

CoinDesk Markets reported that Bessent addressed domestic regulatory structures during the conference. He stated that joint actions by the Securities and Exchange Commission and the Commodity Futures Trading Commission could help address regulatory gaps remaining after the failure of the Clarity Act. Bessent also noted that these regulatory agency actions could assist in curbing the debanking of cryptocurrency businesses. [1]

Cryptocurrency operates as a digital asset class utilizing distributed ledger or blockchain technology to facilitate secure transactions. Scott Bessent serves as the 79th U.S. secretary of the treasury, having taken office in 2025. He previously worked as a partner at Soros Fund Management and established Key Square Group, an investment firm focused on global macro trading. [3][4]