I think what the administration is considering (out of a last ditch effort to reduce the national debt and deficit) is the promotion of US dollar stablecoins. So the article has that part right.

However... the bit about having a 'government reserve' of stablecoins... I hadn't read that anywhere. Government reserve of btc and a stockpile of other tokens (that almost noone uses) that's what we already know.

But including stablecoins... that's a new one. The other thing is the 'pressure' on other countries to divest from dollars (cash?) and instead move into stablecoins?

Then the author implies that this is about Tokyo moving the dollars cash into dollars stablecoins allowing Tether to buy lots of US debt, driving down the interest rates on US debt.

This isn't anything new though... P Ryan was talking about this years ago and without some kind of strategy... debt servicing costs will just continue to rise.