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U.S. Treasury Secretary Scott Bessent said Tuesday that American leadership in digital assets could reinforce the dollar’s global position, even as Congress has stalled on the market-structure legislation meant to govern them.
Speaking at Ripple’s Swell conference in New York with CEO Brad Garlinghouse, Bessent argued that the foundations of reserve-currency power are shifting. For much of modern history, he said, the dollar’s dominance rested largely on military strength.
“We will keep our military umbrella, but increasingly, it becomes a technological umbrella,” he said.
He grouped digital assets with artificial intelligence and semiconductors as areas where…
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