SkyBridge Capital founder Anthony Scaramucci says the next crypto bull market could be driven by a new wave of clear crypto regulation.
In a new interview with CNBC’s Squawk Box, the former White House communications director said that he and two other prominent figures in the industry traveled to Washington, D.C. to speak to officials about the dangers of Sen. Elizabeth Warren and U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler’s hardline approach to regulating cryptocurrencies.
“Mark Cuban, myself, and Michael Novogratz went to Washington a few weeks ago to speak with White House officials and explain the dangers of Gary Gensler and Elizabeth Warren’s anti-cryptocurrency approach. We hope that message gets across…
Overall, if we can get regulatory policies on Bitcoin and crypto assets in line, we will see a bull market for these assets next year.”
Scaramucci further compared cryptocurrencies to ride-sharing company Uber, saying regulators were initially wary of the service but ultimately saw public demand lead them to establish clearer guidelines.
“Think back to Uber. Nobody wanted Uber. A lot of regulators didn’t want it. The mayor and deputy mayor didn’t want it, but people wanted it. And ultimately people bought into the idea of regulating it fairly. I think we’re there now.”
The official also said that younger Democrats believe their leaders are making poor choices when it comes to digital assets.
“I think President Trump’s move on Bitcoin and crypto assets has shaken the Democratic Party to its core, and I think it’s time for very smart young Democrats to realize that their positions are completely off the mark, that the SEC lawsuits and enforcement regulations are completely off the mark, and to move back to the center.”
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