Dollar-backed stablecoins will expand the global reach and dominance of the U.S. dollar rather than challenge it

"The White House argues that wider adoption of regulated dollar-backed stablecoins could modernize the payments system while reinforcing—not replacing—the global role of the U.S. dollar. That's a notable departure from the way crypto has often been portrayed over the past decade. Instead of viewing digital assets as a challenge to the dollar, the administration increasingly sees them as a vehicle to expand its reach."