Regulation
Former White House official Anthony Scaramucci says crypto bull market could be sparked by regulatory clarity
Anthony Scaramucci, founder of Skybridge Capital, says the next cryptocurrency bull market could be triggered by a new wave of clear regulations.
In a new interview On CNBC’s Squawk Box, the former White House communications director says he and two other top industry figures traveled to Washington, D.C., to speak with officials about the dangers posed by Senator Elizabeth Warren and U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler’s hardline approach to cryptocurrency regulation.
“Mark Cuban, myself, Michael Novogratz, were in Washington a few weeks ago talking to White House officials, explaining the dangers of Gary Gensler-Elizabeth Warren’s anti-crypto approach. Hopefully the message gets through…
Overall, if we can get the regulatory policy around Bitcoin and cryptocurrencies to coincide, we will see a bull market for these assets next year.”
Scaramucci goes on to compare cryptocurrencies to the ride-sharing company Uber, saying that regulators were initially wary of the service, but eventually decided to issue clear guidelines due to public demand.
“Remember Uber: Nobody wanted Uber. A lot of regulators didn’t want it. Mayors, deputy mayors didn’t want it, but people wanted Uber and eventually people came around to the idea of regulating it fairly. I think we’re there now.”
The executive also says that young Democratic voters believe their leaders are making the wrong choices when it comes to digital assets.
“I think President Trump’s move toward Bitcoin and cryptocurrencies has shaken Democrats to their core, and I think the younger, smarter Democrats are recognizing that they’re very far from the base with their positions, very far from the base with these SEC lawsuits and regulation through law enforcement, and now they need to get back to the center.”
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