Beasant Criticizes Crypto Industry for Legislative Delays
During a recent Senate hearing, U.S. Treasury Secretary Scott Beasant expressed strong disapproval toward certain figures within the crypto industry. He emphasized that the Clarity Act is essential for structured development in the digital asset space, and that some opponents are acting like 'nihilists'—preferring no regulation over accepting what he called a 'very good regulatory' framework.
Beasant stressed that the bill is vital for the future of crypto in the U.S., and that anyone who disagrees might be better off moving to a country like El Salvador.
Bipartisan Frustration Over Legislative Gridlock
Democratic Senator Mark Warner also voiced frustration over the stalled progress, saying he feels as though he's 'in crypto hell.' He highlighted pressing issues related to national security and DeFi that the bill aims to address.
Hope for Year-End Passage
Despite the challenges, Beasant remains optimistic that the bill will pass this year. He noted bipartisan agreement on key points and said its enactment would provide much-needed stability and regulatory clarity for the crypto market.