Scaramucci Says Trump Memecoins Derailed Key Crypto Regulation Bill

Trump memecoins derailed — SkyBridge Capital founder Anthony Scaramucci has blamed former President Donald Trump’s memecoin ventures for derailing the bipartisan CLARITY Act, a major piece of crypto regulation legislation.

Speaking at the SALT London conference, Scaramucci told Cointelegraph that memecoin launches around Trump’s January 2025 inauguration cost the bill crucial Democratic support. “Singular reason,” Scaramucci said when asked if the activities were the sole cause of the failure. He stated that Democrats who had become receptive to crypto regulation withdrew their backing following the launches.

The CLARITY Act, which sought to establish a federal regulatory framework for digital assets, failed a key Senate procedural vote on September 15, receiving 49 votes for and 50 against, short of the 60 needed. Scaramucci also cited disputes over ethics provisions restricting government officials’ crypto interests as a point of contention, with lawmakers seeking stronger rules than the White House wanted.

Despite the legislative setback, Scaramucci expressed optimism that the current SEC’s approach could help tokenization reach critical “escape velocity.” The remarks follow previous concerns from lawmakers and advocacy groups about potential conflicts of interest and significant investor losses linked to Trump-affiliated crypto ventures.