Anthony Scaramucci Clears Air On Political Debate On Crypto

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Anthony Scaramucci, the founder of SkyBridge Capital, appeared on CNBC’s Squawk Box and emphasized the need for Democrats and Republicans to come together and regulate Bitcoin and cryptocurrency.

Anthony Scaramucci Clears Air On Political Debate

Anthony Scaramucci, in the interview, underscored the necessity for bipartisan support in regulating Bitcoin and other cryptocurrencies. Scaramucci stressed that collaborative efforts from both political parties are crucial in establishing a balanced regulatory framework for the burgeoning crypto industry.

This trend is evident with the recent passing of the Financial Innovation and Technology for the 21st Century Act by the U. S. House of Representatives with support from both Democrats and Republicans.

However, he particularly disapproved of the ‘Gary Gensler, Elizabeth Warren, anti-crypto approach’ as being counterproductive to the growth of the industry.

“We need to make Bitcoin and the regulation around blockchain and cryptocurrency bipartisan,” Scaramucci stated.

He highlighted ongoing discussions with White House officials, alongside prominent figures like Mark Cuban and Michael Novogratz, to address the risks associated with the current regulatory approach, which he described as anti-crypto.

Scaramucci claimed that recent market volatility is due to the German government unloading large amounts of Bitcoin and the release of about $9 billion worth of Bitcoin. He still holds a positive outlook towards digital currency if and only if there is a bipartisan approach to its regulation.

Political Influence on Bitcoin Regulation

Scaramucci noted that politicians, including US Vice President Kamala Harris, could positively influence the regulation of Bitcoin. He said that in the next election if Harris becomes the winner, she may take the middle ground on the regulation of Bitcoin.

He said,

“If Vice President Harris wins the election, I believe that she will shift toward the center on Bitcoin regulation.”

He also credited former President Donald Trump for the shift, noting that the positive sentiments towards cryptocurrencies from Trump made Democrats reconsider their positions. Scaramucci appreciated Trump for changing the Democratic approach to the regulation of cryptocurrencies and called on young democrats to switch to a fair position.

Scaramucci also spoke about the rising institutional adoption of Bitcoin as an investment asset. Comparing the situation with the gradual emergence of other revolutionary services like Uber, he claimed that the same could happen to Bitcoin. He highlighted the increasing interest from institutional investors, citing Wisconsin State’s large investments in Bitcoin and Jersey City’s shift into Bitcoin ETFs.

Upcoming Bitcoin 2024 Conference

Scaramucci and former President Trump are scheduled to speak at the Bitcoin 2024 conference this weekend. Speculation suggests that Trump may discuss plans for a Bitcoin strategic reserve, further legitimizing Bitcoin as an asset class in the U.S. government’s eyes.

This year the conference was also supposed to be attended by Vice President Kamala Harris, but due to her schedule, she could not attend the meeting. Scaramucci said: “It’s a miss for her, she should have been there, but she wasn’t; nonetheless, I understand why she wasn’t.”

Earlier in the week, Scaramucci had taken to Twitter to calm the crypto community, saying that Harris is supportive of cryptocurrencies. He noted that it would be wrong to regard Harris’s non-attendance at the Bitcoin Conference as hostility to the sector.

Scaramucci stated that

“Gensler will be fired and Warren will be sidelined as Financial Services Czar in a Harris Administration. Let’s keep crypto bipartisan; it will be healthier for the ecosystem in the long run.”

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