Bessent pressures crypto ‘nihilists’ on market structure bill
- Key insight: Treasury Secretary Scott Bessent appeared to push crypto companies to line up behind market structure legislation.
- Expert quote: “Amen, brother,” said Sen. Mark Warner, D-Va., of Bessent’s crypto comments.
- What’s at stake: Bankers and crypto interests are currently debating the scope of a prohibition of yield on stablecoin in upcoming market structure legislation, which bankers fear could lead to a fleeing of deposits if not tight enough.
WASHINGTON — Treasury Secretary Scott Bessent pushed the crypto industry to back digital asset market structure legislation, as banks and the crypto industry are
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Last month, Coinbase withdrew its support for market…
