US Treasury Secretary: "Halting crypto regulation and enforcement... Will maintain hegemony through stablecoins"
Son Min
Summary
- The US Treasury announced it will halt regulatory enforcement on virtual assets.
- The US plans to establish itself as a leader in virtual assets through the Bitcoin Strategic Reserve Executive Order.
- The US stated it will utilize stablecoins to maintain the US dollar as the dominant currency.
The US Treasury Secretary has announced plans to halt regulatory enforcement on virtual assets (cryptocurrencies).
On the 8th (local time), Treasury Secretary Scott Bessent stated through the White House Virtual Asset Summit, "We will halt regulatory enforcement on virtual assets," adding that "the Biden administration has done nothing but attack and punish innovators."
He continued, "Through the Bitcoin Strategic Reserve Executive Order, the United States can establish itself as a leader in virtual assets," and said this authority would expand the asset aspect of the United States. Furthermore, he added that "the US dollar will remain the dominant currency," and that this goal would be achieved through stablecoins.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
