SkyBridge Capital Founder: Trump’s Crypto Business and Meme Coin Launches Led to the CLARITY Act Losing Democratic Support

on November 5, according to Cointelegraph, SkyBridge Capital founder Anthony Scaramucci stated that Trump's cryptocurrency business interests and the issuance of Meme coins were key reasons hindering the progress of the U.S. CLARITY Act, with such actions weakening Democratic support for crypto regulatory legislation.

Additionally, both sides hold differing views on ethical provisions regarding government officials' cryptocurrency holdings and conflict-of-interest restrictions, with the White House opposing further strengthening of these limitations. Scaramucci stated that both parties share responsibility for the bill's stagnation. Prior to this, the legislation failed a Senate procedural vote on September 15, falling short of the 60-vote threshold required to advance with a final tally of 49 in favor and 50 against.