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U.S.$USDC Treasury Secretary Scott Bessent has sharply criticized segments of the crypto industry that continue to resist regulatory clarity, calling them “crypto nihilists” who oppose any form of structured oversight.
Speaking before the Senate Banking Committee, Bessent addressed growing tensions around the long-awaited Digital Asset Market Clarity Act, a bill designed to establish clear rules for crypto markets in the United States. According to Bessent, while many industry participants are pushing for responsible regulation, a vocal minority appears to want no rules at all.
In one of his most pointed remarks, Bessent suggested that those who reject regulation outright might be better off operating elsewhere. “If you don’t want rules, move to El Salvador,” he said, referring to the country’s crypto-friendly and loosely regulated environment.
Bessent emphasized that strong market structure is not anti-crypto, but essential for long-term growth, investor protection, and institutional adoption. He warned that without clear legislation, the U.S.$USDC risks falling behind other jurisdictions that are actively building regulatory frameworks to attract capital and innovation.
The Treasury Secretary’s comments highlight a widening divide within the crypto ecosystem: builders and institutions seeking clarity versus ideological purists who view regulation as a threat. Lawmakers, meanwhile, are under pressure to balance innovation with financial stability as digital assets become more integrated into the global financial system.
As debate around the Digital Asset Market Clarity Act intensifies, Bessent’s remarks signal that U.S. regulators are losing patience with obstruction—and that the path forward for crypto in America will likely include clearer rules, not regulatory vacuum.$USDC

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