Scott Bessent contends that the rise of cryptocurrencies, particularly stablecoins, enhances rather than diminishes the U.S. dollar's global influence. He highlights that stablecoins, which are pegged to the dollar, increase its reach by providing mobile access worldwide. Bessent points out that stablecoin reserves are required to hold U.S. Treasuries, thereby linking the growth of digital assets to the demand for government debt. Bessent argues that digital assets integrate the dollar into global payment systems, suggesting that proactive U.S. engagement with digital currencies is more effective than restrictive regulations. This approach, he believes, will further embed the dollar in international financial transactions.