Scaramucci Says Trump's Meme Coin Business Derailed the CLARITY Act
Odaily: Anthony Scaramucci, founder of SkyBridge Capital, said that Trump's crypto business and meme coin issuance caused the CLARITY Act to lose Democratic support, undermining the bill's bipartisan momentum. He said that the meme coins in question were launched before Trump took office in January 2025 and were one of the reasons the bill stalled.
Scaramucci also noted that lawmakers and the White House are at odds over ethics restrictions: lawmakers want to tighten limits on government officials' crypto asset interests, while the White House is unwilling to sign on to such provisions. He said both sides should bear responsibility for the failure to move negotiations forward.
The U.S. Senate failed to advance the CLARITY Act on September 15, with the procedural motion receiving 49 votes in favor and 50 against, short of the 60 votes required. The bill aims to establish a federal regulatory framework for digital assets.
The CLARITY Act's Senate failure, falling short of the 60-vote threshold, means a federal digital-asset framework stays unclear and institutional compliance uncertainty remains elevated. The partisan rift over ethics rules and Trump's meme coin business adds political risk, delaying the regulatory clarity that would ease institutional entry and dampening crypto market sentiment. Short-term bearish (medium).