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Former White House Communications Director and current CEO of SkyBridge Capital Anthony Scaramucci publicly criticized the Democrats for their handling of cryptocurrency legislation.
What Happened: Scaramucci, who served under the Trump administration in 2017, expressed his disappointment with the Democrats' failure to enact clear crypto legislation in an exclusive interview with CoinDesk. "The Democrats have made a horrific mistake," he said. "They could have been neutral on crypto or positive on crypto. And I think it would have helped them in the election."
Despite his criticism, Scaramucci continues to support the Democrats. However, he voiced his disapproval of SEC Chair Gary Gensler, calling for his dismissal. He argued that Gensler and Sen. Elizabeth Warren's (D-Mass.) antipathy has been an "unbelievable disaster" for the crypto industry.
Scaramucci also shared his views on Trump’s pro-crypto stance, stating that if reelected, which has a 70% probability on crypto prediction market Polymarket, the new administration would create a supportive environment for the crypto industry. However, he clarified that while he appreciates Trump’s pro-crypto position, he is not a "one issue voter."
Also Read: Is A Donald Trump Presidency The Next Big Catalyst For Bitcoin?
Why It Matters: The Democrats’ stance on cryptocurrency has been a contentious issue. Their failure to enact clear legislation has led to uncertainty and instability in the crypto market.
Scaramucci's criticism highlights the need for clear and supportive crypto legislation to foster growth and innovation in the industry. His comments also underscore the political implications of the crypto debate, suggesting that a more positive stance on crypto could have electoral benefits.
He concluded that he sees himself having "Trump reality syndrome" and Trump lacking intellectual curiosity. He added, "these think tanks that are working alongside of him want to build his transition into the first few years of his presidency as a dystopian."
What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
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Image: Shutterstock
Posted In: $BTC
