US Treasury Secretary: Cryptocurrencies will not threaten the status of the US dollar, but stablecoins will help consolidate the hegemony of the US dollar US Treasury Secretary Scott Besant issued a statement this morning stating that cryptocurrencies will not threaten the position of the US dollar, and instead stablecoins will help consolidate the dominance of the US dollar. He pointed out that digital assets are one of the most important phenomena today, but have long been overlooked by governments around the world. Besent emphasized that the current government is committed to building the United States into a center for digital asset innovation, and the advancement of the GENIUS Act takes this goal even further.