Trump’s memecoin ventures derailed CLARITY Act, Scaramucci says

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.The remarks follow the Senate’s failure to advance the CLARITY Act on Sept. 15, when a procedural motion received 49 votes in favor and 50 against, falling short of the 60 votes required. The bill, which sought to establish a federal regulatory framework for digital assets, faced disagreements over ethics provisions restricting government officials’ crypto interests.Scaramucci says both sides share responsibilityScaramucci also pointed to disagreements over proposed ethics restrictions, saying lawmakers sought stronger p...