- Anthony Scaramucci blamed Donald Trump’s memecoin ventures for weakening bipartisan support for the CLARITY Act.
- The US Senate failed to advance the crypto bill on September 15, with the procedural motion receiving 49 votes in favor and 50 against.
- Disagreements over ethics provisions and potential conflicts of interest further stalled negotiations.
SkyBridge Capital founder Anthony Scaramucci has said that US President Donald Trump’s memecoin efforts are responsible for hurting support for the CLARITY Act. He explained that worries about conflicts of interest helped stop the legislation from moving forward.
Speaking to a crypto news company at SALT London, Scaramucci said that Trump’s memecoin releases ahead of his January 2025 inauguration hurt the push for crypto rules after the 2024 election.
JUST IN: ANTHONY SCARAMUCCI JUST SAID TRUMP’S MEMECOIN IS THE “SINGULAR REASON” #BITCOIN AND CRYPTO REGULATION FAILED
“THE PEOPLE LOSE $4,800,000,000″
“YOU AND YOUR FAMILY MAKE $700,000,000”
“I SAID TRUMP IS A NET NEGATIVE FOR CRYPTO”
“LOOK AT WHERE WE ARE NOW”
“YOU CAN’T RUG PULL PEOPLE AS THE PRESIDENT OF THE UNITED STATES” 👀
Source: @Cointelegraph
— The Bitcoin Historian (@pete_rizzo_) November 5, 2026
When asked if the releases were the cause the law didn’t move forward, Scaramucci called them the “Singular reason.” He mentioned Democrats who had once been more open to supporting a crypto regulatory plan.
CLARITY Act Stalls Amid Ethics Dispute
The Senate did not move forward with the CLARITY Act on September 15. A procedural motion to advance the bill failed, receiving 49 votes in favor and 50 votes against. It needed 60 votes to pass, so the bill fell short by one vote.
The CLARITY Act was meant to create a federal regulatory system for digital assets. Lawmakers could not agree on certain provisions. These provisions were designed to limit interests in cryptocurrency for government officials.
Scaramucci said lawmakers wanted ethics rules.. The White House opposed those restrictions. He also said the failure of the bill was not one side’s fault.
“There’s culpability on both sides for that deal not going forward ” he said.
The disagreement grew in July. Five Democratic senators asked for hearings into Trump’s crypto holdings. They were concerned, about conflicts of interest. In August, the consumer group Public Citizen said investors had lost at least $4.7 billion in Trump-related crypto ventures. That included $3.2 billion tied to the Official Trump (TRUMP) memecoin. Most of these losses had not been realized yet.
Tokenization Could Still Gain Momentum
Despite the setback from the CLARITY Act, Scaramucci said he was hopeful about the future of the crypto industry as a whole.
Scaramucci said the Securities and Exchange Commission’s approach, under Chair Paul Atkins, could speed up tokenization adoption to a point where reversing tokenization adoption would become increasingly difficult.
Scaramucci warned that it remains uncertain whether tokenization adoption will reach that point before the US administration.
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