The SkyBridge founder said disputes over ethics restrictions also stalled negotiations, with both sides responsible for the setback.
SkyBridge Capital founder Anthony Scaramucci blamed US President Donald Trump’s crypto business interests and memecoin launches for derailing the CLARITY Act, saying they cost the legislation Democratic support.
Speaking with Cointelegraph at SALT London, Scaramucci said the memecoin launches shortly before Trump’s January 2025 inauguration undermined bipartisan momentum for crypto regulation following the 2024 election.
“Singular reason,” Scaramucci told Cointelegraph when asked whether the memecoin activities were the sole reason the bill did not pass. He said Democrats who had become more receptive to crypto regulation withdrew their support following the launches.
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