U.S. Deputy Treasury Secretary Says New Crypto Rules Bolster Dollar’s Dominance

U.S. Deputy Treasury Secretary Brian Faulkender said forthcoming cryptocurrency regulations will strengthen the U.S. dollar’s position as the world’s benchmark currency. In an interview with CNBC on Friday, Faulkender argued that clearer oversight of digital assets would reduce uncertainty and reinforce confidence in dollar-denominated transactions and holdings. Faulkender added that the private sector should take the lead in educating consumers about stablecoins, which peg their value to fiat currencies. He said better public understanding of how stablecoins work is essential for safeguarding investors and for ensuring that dollar-backed tokens develop in a way that supports broader financial stability.