🚨US Treasury representative Bessent criticizes the 'nihilists' of cryptocurrency who oppose the market structure bill🚨
In some particularly biting sentiments, US Treasury Secretary Scott Bessent has criticized the players in the cryptocurrency sector who hinder legislative progress for the much-anticipated Digital Asset Market Clarity Act.
Bessent testified before the Senate Banking Committee that some in the industry seem to desire no regulation.
US Treasury Secretary Scott Bessent issued warnings to cryptocurrency players who are resisting negotiations on a market structure bill for digital assets in the Senate — briefly aligning with Democratic Senator Mark Warner in expressing frustration during a hearing on Thursday.
"It seems there is a nihilist group in the sector that prefers no regulation to this great regulation," Bessent stated in his testimony before the Senate Banking Committee.
in the United States unless the bill is approved.
"It is impossible to proceed without it," he stated. "We must get the Clarity Act across the finish line. And any market participant who does not want it should move to El Salvador."
Bessent expressed his belief that the previous GENIUS Act, aimed at regulating stablecoin issuers in the United States, struck a good balance that could eventually be replicated in the Clarity Act.
