U.S. Treasury's Bessent calls out crypto 'nihilists' resisting market structure bill
Treasury Secretary Bessent criticized crypto industry members resisting the Senate's digital assets market structure bill, urging them to move to El Salvador if they prefer no regulation.Summary
U.S. Treasury Secretary Scott Bessent sharply criticized segments of the crypto industry resisting negotiations over a digital assets market structure bill in the Senate, labeling them a "nihilist group who prefers no regulation over this very good regulation." Democratic Senator Mark Warner, a key negotiator, agreed with Bessent's frustration during a Senate Banking Committee hearing. Industry figures, including Coinbase CEO Brian Armstrong, have criticized provisions concerning decentralized finance (DeFi) regulation and the definition of tokens as securities. Warner emphasized that while technical points can be resolved, his focus remains on national security gaps related to DeFi. Bessent stressed that the industry cannot advance in the U.S. without passing the Digital Asset Market Clarity Act, stating that participants who oppose it "should move to El Salvador." He expressed optimism that the bill could pass this year, balancing necessary government oversight with crypto freedom.
(Source：CoinDesk)