US Treasury Tells Crypto Companies to Follow Rules or Leave
Washington just turned up the pressure on crypto, and the message came bluntly when US Treasury Secretary Scott Bessent told companies unwilling to follow new rules they could “move to El Salvador.”
Treasury Secretary Scott Bessent says the US has to get Bitcoin & crypto market structure bill “across the finish line” this year.
“It’s impossible to proceed without it.” pic.twitter.com/vQRaKvCuSM— Astik Mondal (@Astik_Mondal_) February 6, 2026
Bitcoin barely moved after the comment, holding steady near recent levels, which suggests the market views this as a political fight playing out over time rather than an immediate price event. The debate arises as lawmakers once again try to define how crypto fits into the US financial system, with regulators and companies pushing different visions of what that future should look like.
What Is The Crypto Clarity Act And Why Washington Is Fighting Over It
The Crypto Clarity Act aims to draw clear lines around which regulator oversees different parts of the crypto industry and what rules exchanges and projects must follow. You can think of it like setting traffic rules on a busy highway, where structure helps everyone understand how to operate safely.
Bessent told senators that meaningful oversight remains difficult without legislation like this, leaving regulators to rely on enforcement actions rather than consistent guidelines. As long as that uncertainty continues, companies face unclear expectations, and policymakers continue debating how far rules should go.
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Why Coinbase And Banks Are On Opposite Sides
Tension escalated when Coinbase briefly stepped back from supporting the bill, with CEO Brian Armstrong arguing that poorly designed laws create long-term problems. One major disagreement centers on stablecoins, crypto tokens tied to the US dollar that are often used like digital cash.
Coinbase wants stablecoin holders to earn interest, while traditional banks warn that higher yields could pull deposits away from local banking systems. Those deposits fund everyday lending, including mortgages and small-business loans, so banks view stablecoins as direct competitors. Bessent’s support for the banking side surprised some observers, since the argument focuses on preserving deposit stability, especially in smaller communities.
What This Means For Everyday Crypto Investors
Clearer rules can reduce sudden disruptions, such as exchange shutdowns or surprise product removals, thereby bringing a level of predictability to users. At the same time, stricter compliance standards may limit access to certain tokens or high-yield products that fail to meet regulatory expectations.
This comes amid recent Crypto Clarity Act talks and the broader US crypto regulatory push and signals a broader push to define crypto’s role within the existing financial system, where lawmakers balance innovation with consumer protection and financial stability.
Safety Check Where Beginners Get Hurt
Legal gray areas often create space for scams and risky offerings, which is why regulators push for clearer disclosures and oversight. Public companies already follow strict reporting rules, including detailed risk disclosures in filings, and similar ideas guide crypto oversight discussions.
The SEC’s past enforcement actions against unregistered crypto products show how regulators respond when boundaries remain unclear, which helps explain the urgency behind new legislation.
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The Bigger Message Behind The El Salvador Comment
Bessent’s remark signals that US policymakers want crypto companies operating within established rules rather than outside them. Firms resisting that direction may face increasing pressure as lawmakers move toward a defined regulatory framework.
This crypto debate between exchanges, banks, and regulators continues to shape the landscape, while everyday users navigate the space between innovation and compliance. For now, a cautious approach helps, which includes using regulated platforms, staying skeptical of unusually high yields, and recognizing that policy debates often take longer to resolve than market cycles.
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