Bessent: "move to El Salvador"; pushes Clarity Act after Coinbase's January 2026 exit

In Senate Banking Committee testimony on Thursday, Treasury Secretary Scott Bessent urged passage of the Digital Asset Market Clarity Act and told firms seeking minimal oversight to "move to El Salvador." Coinbase withdrew support in January 2026 over proposed limits on passive stablecoin yields, while Bitcoin is down over 32% this year near $63,100.