U.S. Treasury Secretary Scott Bessent said digital-asset technology could strengthen the dollar’s global position and support U.S. technological competitiveness. In a discussion with Ripple Chief Executive Officer Brad Garlinghouse at Ripple’s Swell conference, Bessent said reserve-currency power had historically rested on military strength but was shifting increasingly toward technology. The existing account dates the discussion to Oct. 27, while the new report dates it to the 28th. Bessent said the United States would prevail in digital-asset technology and continue reinforcing the dollar. He also said dollar-backed stablecoins could expand access to the U.S. currency in emerging markets and countries facing depreciation or high inflation. More than 90% of stablecoins are dollar-based, he said, and issuers hold U.S. Treasuries as reserve assets, potentially increasing Treasury demand and creating an important funding channel for the department. Bessent called Congress’s failure to pass the CLARITY Act disappointing and said the Treasury could work with the Securities and Exchange Commission and the Commodity Futures Trading Commission on an administrative regulatory framework, best practices and safeguards against debanking of crypto companies.