SkyBridge founder: Trump meme coin led to the failure of advancing the CLARITY Act, both Democrats and Republicans share responsibility.

November 5 — SkyBridge Capital founder Anthony Scaramucci said in an interview at the SALT event in London that U.S. President Trump's crypto business interests and meme coin issuance are the "sole reason" holding back the CLARITY Act. He stated that Trump's launch of a meme coin on the eve of his January 2025 inauguration weakened the bipartisan momentum around crypto regulation that followed the 2024 election, causing Democrats who were previously more open to regulation to withdraw their support.

The Senate failed to advance the CLARITY Act on September 15, with a procedural motion falling short of the required 60 votes at 49 in favor and 50 opposed. The bill is stalled over ethics restriction provisions, with lawmakers seeking to strengthen constraints on government officials' crypto interests, while the White House is unwilling to sign on, and both sides bear responsibility for the failure to move the deal forward. Under SEC Chairman Paul Atkins, tokenization may be expected to reach "escape velocity," but it remains difficult to judge whether this can be achieved before the next change of U.S. administration.