According to CoinMeta, US Treasury Secretary Scott Bessent stated at the Swell conference on Ripple that the United States will "win" in the crypto field, saying, "We will win in the digital assets space." He believes this will "continue to strengthen the dollar." Bessent pointed out that over 90% of stablecoins are backed by the dollar, considering them an "important source of funding for finance." He expressed disappointment that Congress was unable to pass a clear bill, but said that the Treasury Department can cooperate with SEC and CFTC.