Skybridge Capital founder Anthony Scaramucci says that the next crypto bull market could be ignited by a new wave of clear crypto regulations.
In a new interview on CNBC Squawk Box, the ex-White House communications director says that he and two other prominent figures in the industry went to Washington, D.C. to speak to officials about the perils of Senator Elizabeth Warren and U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler’s hard-line approach to regulating crypto.
“Mark Cuban, myself, Michael Novogratz, we were down in Washington a few weeks ago speaking with officials at the White House, explaining the danger of the Gary Gensler-Elizabeth Warren anti-crypto approach. Hopefully, that message is getting through…
By and large, if we can get the regulatory policy around Bitcoin and crypto assets in sync, you’ve got a bull market next year coming for these assets.”
Scaramucci goes on to compare crypto assets to ride-sharing firm Uber, saying that regulators at first were wary of the service but eventually came around to passing 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 the 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 younger Democrat voters believe that their leaders are making the wrong choices when it comes to digital assets.
“I think President Trump’s move towards Bitcoin and towards crypto assets has shaken the Democrats to the core, and I think very smart, younger Democrats are recognizing that they are way off base with their positions, way off base with these SEC lawsuits and regulation by enforcement, and they have to tack now back to the middle.”
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