U.S. Treasury Secretary Scott Bessent issued a stern warning to cryptocurrency companies that refuse to comply with new regulations, stating they "should move to El Salvador," highlighting the escalating political battle surrounding the Cryptocurrency Clarity Act. The bill aims to clarify regulations and rules for the cryptocurrency industry, with the main conflict between companies like Coinbase seeking to issue interest-bearing stablecoins and traditional banks concerned about deposit competition. The market response was muted, with Bitcoin prices remaining stable, indicating that the market generally views this as a long-term regulatory debate rather than a short-term price catalyst.