SkyBridge Founder: Trump Meme Coins Led to Stalled Progress of the CLARITY Act, Both Democratic and Republican Parties Bear Responsibility

SkyBridge Capital founder Anthony Scaramucci told reporters at the London SALT conference that former US President Donald Trump’s crypto business interests and meme coin launches are the "only reason" holding back the CLARITY Act. Scaramucci explained that Trump rolled out meme coins on the eve of his January 2025 inauguration, eroding bipartisan momentum for crypto regulation after the 2024 election—prompting Democrats, who had previously been more open to regulatory frameworks, to withdraw their support. The Senate failed to advance the CLARITY Act on September 15, as a procedural motion garnered 49 votes in favor and 50 against, falling short of the 60-vote threshold needed. The bill is deadlocked over ethics provisions: lawmakers aim to tighten oversight of government officials’ crypto-related financial interests, while the White House has refused to sign off, with both sides bearing responsibility for the impasse. Under SEC Chair Paul Atkins, tokenization could reach "escape velocity," though it remains uncertain whether this will occur before the next US presidential transition.