U.S. Treasury’s Bessent calls out crypto ‘nihilists’ resisting market structure bill
U.S. Treasury Secretary Scott Bessent fired warning shots at crypto insiders who are pushing back in the negotiations over a digital assets market structure bill in the Senate — briefly aligning with Democratic Senator Mark Warner in expressing frustration during a hearing on Thursday.
“There seems to be a nihilist group in the industry who prefers no regulation over this very good regulation,” Bessent said in testimony before the Senate Banking Committee.
“Amen, brother,” said Virginia Senator Warner, one of the key Democratic negotiators on the bill. “So weigh in.”
“I do,” Bessent responded. “Early and often.”
A number of crypto industry participants, including Coinbase CEO Brian Armstrong, have been critical of provisions in the…
