Scaramucci Accuses Republicans of Stalling CLARITY Act to Blame Democrats and Solicit Crypto Donations

SkyBridge Capital founder Anthony Scaramucci accused Republicans on Sunday of deliberately blocking the CLARITY Act in the Senate, alleging the strategy is designed to shift blame onto Democrats while simultaneously leveraging the impasse to raise funds from the cryptocurrency industry ahead of the midterm elections.

Scaramucci Calls Out Republican Strategy

In a post on X, Scaramucci urged congressional leadership to bring the digital asset legislation to the Senate floor so that lawmakers' positions are on the record. He called for a transparent vote to reveal "who actually is supporting it and who doesn't."

"So it now feels like the Republicans don't want the Clarity Act to pass so that they can blame the Democrats for not passing it and then seek donations from the crypto industry in the Fall," Scaramucci wrote.

The prominent Bitcoin advocate recommended that the cryptocurrency industry withhold political contributions until Republicans agree to put the bill to a vote. The call carries weight given the crypto sector's emergence as a significant political fundraising force, with industry-aligned political action committees having deployed hundreds of millions of dollars during the 2024 election cycle to back pro-crypto candidates across both parties.

The former White House Communications Director expressed frustration with what he described as a purely partisan standoff: Democrats are unwilling to hand President Donald Trump a policy victory, while Republicans are purposefully slowing the legislation to extract donations from the crypto sector before the November midterms.

Senator Cynthia Lummis Responds

Sen. Cynthia Lummis (R-Wyo.), one of the legislation's most prominent supporters in the Senate and a longtime crypto advocate who previously championed the Bitcoin-backed BITCOIN Act, acknowledged the frustration but pushed back against the notion that Republicans are obstructing the bill.

Lummis said she "understands the frustration," while asserting that Republicans are making every effort to bring the legislation to the floor for a vote.

"We are ready and willing to get this across the finish line," Lummis added.

Legislative Outlook and Timeline Pressure

Scaramucci has been critical of both parties for failing to reach a bipartisan compromise on the CLARITY Act, which seeks to establish a clearer regulatory framework by dividing oversight responsibilities for digital assets between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC). Under the proposed framework, digital assets deemed sufficiently decentralized would primarily fall under CFTC jurisdiction, while those tied to decentralized networks would receive SEC oversight—a distinction the industry has long sought to reduce regulatory uncertainty that has driven multiple enforcement actions in recent years.

The financier argued that Democrats are opposing the legislation due to its association with President Trump rather than evaluating it on its policy merits. Scaramucci warned that lawmakers who fail to support crypto legislation would face consequences in the November midterm elections.

The Senate is scheduled to begin its recess on August 7. If the CLARITY Act does not advance before that deadline, September would represent the next realistic opportunity for a vote. However, a failed September attempt would likely push consideration of the bill beyond the midterms entirely.

As of this reporting, prediction market Polymarket placed the odds of the CLARITY Act becoming law in 2026 at 31%.

Source: CryptoNews