<-- test --!> Exclusive: Anthony Scaramucci Criticizes Warren-Gensler “Hegemony” in US Crypto Regulation – Best Reviews By Consumers

Exclusive: Anthony Scaramucci Criticizes Warren-Gensler “Hegemony” in US Crypto Regulation

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Wednesday, 09/10/2024 | 15:34 GMT by

Damian Chmiel

  • Responding to Finance Magnates’ question, the former White House Communications Director stated that a bipartisan approach is needed.
  • He added that regulators were “very close” with the family of Sam Bankman-Fried, the founder of the collapsed FTX exchange.

Anthony Scaramucci, speaking at the World Economic Forum in Davos, 2017. Source: Flickr

Anthony Scaramucci, speaking at the World Economic Forum in Davos, 2017. Source: Flickr

Anthony
Scaramucci, the Founder of SkyBridge Capital investment firm, has voiced
criticism of the current state of cryptocurrency regulation in the United
States. The former White House Director of Communications called for a more bipartisan approach and suggested
that the European Union’s Markets in Crypto-Assets (MiCA) regulation could
influence US policy.

In an
exclusive comment to Finance Magnates, Scaramucci emphasized the
importance of collaborative actions across divisions in terms of market
regulation. “I think it’s very important that we have a bipartisan
commitment to crypto,” he stated, praising the efforts of Senators Kirsten
Gillibrand and Chuck Schumer from New York.

However,
Scaramucci expressed strong disapproval of what he termed the “Elizabeth
Warren and Gary Gensler hegemony” in shaping US crypto policy. “I
think they’ve been very destructive to the industry unnecessarily,” he
said, suggesting that their approach has been arbitrary and potentially
motivated by factors beyond regulatory concerns.

The former
White House communications director pointed to the regulators’ past
interactions with Sam Bankman-Fried, the disgraced founder of FTX, as a
possible factor in their current stance.

“They
were very close to Sam Bankman-Fried’s parents. They met with Sam Bankman-Fried
many times,” Scaramucci claimed, adding that he believes they were
“embarrassed by Sam” and subsequently took a harder line against the
crypto industry.

“I think
they did that unfairly, and they did that arbitrarily and capriciously, which
is reflected in all the lawsuits that they’ve lost,” Scaramucci concluded in
response to a question posed by Finance Magnates during an interview
organized by Saxo Bank, in light of the upcoming US presidential elections.

An example
of what Scaramucci is referring to is the recent decision by the cryptocurrency
exchange Crypto.com to take the Gensler-led Securities and Exchange Commission
(SEC) to court, claiming
regulatory overreach.

Crypto Regulations in the
US vs. Europe

Scaramucci’s
comments come as the cryptocurrency industry faces regulatory
uncertainty in the United States, while the European Union moves forward with
its comprehensive MiCA framework. The contrast between the two approaches has
led to speculation about whether the US might eventually adopt elements of the
EU’s regulatory model.

MiCA Regulations

So far,
however, The US has adopted a more fragmented regulatory approach, relying on
existing financial regulations and enforcement actions rather than
comprehensive crypto-specific legislation.

For
example, the SEC focuses on regulating crypto assets that may qualify as securities, the CFTC oversees crypto derivatives and commodities, and FinCEN handles anti-money laundering
compliance.

In
contrast, the EU has taken a more proactive and unified approach to crypto
regulation. The block approved “Markets in Crypto-Assets Regulation” or MiCA, the world’s first comprehensive
regulatory framework for cryptocurrencies.

Presidential Elections and
How They Can Influence Crypto

With just
four weeks until Election Day, Vice President Kamala Harris’s campaign is
showing signs of strength, but the race remains too close to call according to
political analysts, according to Scaramucci.

The former
Trump administration official turned critic believes the current polls are
accurately reflecting voter sentiment, unlike in previous elections where
Trump’s support was underestimated.

“I
think the race is currently too close to call,” Scaramucci said in a
recent interview with Saxo Bank. “And I think the race is definitely
winnable for both sides.”

While
former President Trump maintains high name recognition and plans to hold daily
rallies in the final weeks, the Harris campaign has deployed an unprecedented
ground game. With a staff of 2,000 and approximately 200,000 volunteers working
the equivalent of 300,000 shifts, Harris’s operation dwarfs that of previous
Democratic campaigns.

crypto companies

“This
is very different from 2016 because they’re in the field, they are working, and
she is showing up,” Scaramucci noted, contrasting Harris’s approach with
Hillary Clinton’s 2016 strategy.

However,
Harris still faces challenges in voter familiarity compared to her opponent.
“Trump has something that she doesn’t have. He has a hundred percent brand
name saturation,” Scaramucci explained. “Harris started on this real
assault for the presidency on the 21st of July, but I would say that she’s
still somewhat unknown.”

Despite
this, Scaramucci believes Harris has momentum on her side. The Vice President
is outpacing Trump in both media appearances and fundraising, with projections
suggesting she may have a two-to-one advantage in campaign spending.

Scaramucci
believes Harris could support a “middle-of-the-road cryptocurrency
legislation” that fairly regulates the industry. On the other hand, Trump’s
pro-crypto stance could lead to appointing crypto-friendly officials in
regulatory bodies.

Anthony
Scaramucci, the Founder of SkyBridge Capital investment firm, has voiced
criticism of the current state of cryptocurrency regulation in the United
States. The former White House Director of Communications called for a more bipartisan approach and suggested
that the European Union’s Markets in Crypto-Assets (MiCA) regulation could
influence US policy.

In an
exclusive comment to Finance Magnates, Scaramucci emphasized the
importance of collaborative actions across divisions in terms of market
regulation. “I think it’s very important that we have a bipartisan
commitment to crypto,” he stated, praising the efforts of Senators Kirsten
Gillibrand and Chuck Schumer from New York.

However,
Scaramucci expressed strong disapproval of what he termed the “Elizabeth
Warren and Gary Gensler hegemony” in shaping US crypto policy. “I
think they’ve been very destructive to the industry unnecessarily,” he
said, suggesting that their approach has been arbitrary and potentially
motivated by factors beyond regulatory concerns.

The former
White House communications director pointed to the regulators’ past
interactions with Sam Bankman-Fried, the disgraced founder of FTX, as a
possible factor in their current stance.

“They
were very close to Sam Bankman-Fried’s parents. They met with Sam Bankman-Fried
many times,” Scaramucci claimed, adding that he believes they were
“embarrassed by Sam” and subsequently took a harder line against the
crypto industry.

“I think
they did that unfairly, and they did that arbitrarily and capriciously, which
is reflected in all the lawsuits that they’ve lost,” Scaramucci concluded in
response to a question posed by Finance Magnates during an interview
organized by Saxo Bank, in light of the upcoming US presidential elections.

An example
of what Scaramucci is referring to is the recent decision by the cryptocurrency
exchange Crypto.com to take the Gensler-led Securities and Exchange Commission
(SEC) to court, claiming
regulatory overreach.

Crypto Regulations in the
US vs. Europe

Scaramucci’s
comments come as the cryptocurrency industry faces regulatory
uncertainty in the United States, while the European Union moves forward with
its comprehensive MiCA framework. The contrast between the two approaches has
led to speculation about whether the US might eventually adopt elements of the
EU’s regulatory model.

MiCA Regulations

So far,
however, The US has adopted a more fragmented regulatory approach, relying on
existing financial regulations and enforcement actions rather than
comprehensive crypto-specific legislation.

For
example, the SEC focuses on regulating crypto assets that may qualify as securities, the CFTC oversees crypto derivatives and commodities, and FinCEN handles anti-money laundering
compliance.

In
contrast, the EU has taken a more proactive and unified approach to crypto
regulation. The block approved “Markets in Crypto-Assets Regulation” or MiCA, the world’s first comprehensive
regulatory framework for cryptocurrencies.

Presidential Elections and
How They Can Influence Crypto

With just
four weeks until Election Day, Vice President Kamala Harris’s campaign is
showing signs of strength, but the race remains too close to call according to
political analysts, according to Scaramucci.

The former
Trump administration official turned critic believes the current polls are
accurately reflecting voter sentiment, unlike in previous elections where
Trump’s support was underestimated.

“I
think the race is currently too close to call,” Scaramucci said in a
recent interview with Saxo Bank. “And I think the race is definitely
winnable for both sides.”

While
former President Trump maintains high name recognition and plans to hold daily
rallies in the final weeks, the Harris campaign has deployed an unprecedented
ground game. With a staff of 2,000 and approximately 200,000 volunteers working
the equivalent of 300,000 shifts, Harris’s operation dwarfs that of previous
Democratic campaigns.

crypto companies

“This
is very different from 2016 because they’re in the field, they are working, and
she is showing up,” Scaramucci noted, contrasting Harris’s approach with
Hillary Clinton’s 2016 strategy.

However,
Harris still faces challenges in voter familiarity compared to her opponent.
“Trump has something that she doesn’t have. He has a hundred percent brand
name saturation,” Scaramucci explained. “Harris started on this real
assault for the presidency on the 21st of July, but I would say that she’s
still somewhat unknown.”

Despite
this, Scaramucci believes Harris has momentum on her side. The Vice President
is outpacing Trump in both media appearances and fundraising, with projections
suggesting she may have a two-to-one advantage in campaign spending.

Scaramucci
believes Harris could support a “middle-of-the-road cryptocurrency
legislation” that fairly regulates the industry. On the other hand, Trump’s
pro-crypto stance could lead to appointing crypto-friendly officials in
regulatory bodies.

Damian Chmiel

  • 1852 Articles
  • 41 Followers

Damian’s adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.

  • 1852 Articles
  • 41 Followers

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    From action-packed moments, insightful speaker sessions, the exclusive Opening Blitz, and immersive workshops, this video captures the energy and excitement of FMPS:24. Whether you attended or missed out, here’s your chance to experience the top moments that made FMPS:24 unforgettable.

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    Don’t forget to use the hashtags #fmps #fmps24 #FMevents when sharing.

    Stay tuned for more events. See you next time!

    📣 Stay updated with the latest in finance and trading!
    Follow FMevents across our social media platforms for news, insights, and event updates.
    Connect with us today:

    🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
    👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
    📸 Instagram: https://www.instagram.com/fmevents_official
    🐦 Twitter: https://twitter.com/F_M_events
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    ▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official

    Don’t miss out on our latest videos, interviews, and event coverage.
    Subscribe to our YouTube channel for more!

    Relive the best moments from the Finance Magnates Pacific Summit 2024 with our highlights video! ✨

    From action-packed moments, insightful speaker sessions, the exclusive Opening Blitz, and immersive workshops, this video captures the energy and excitement of FMPS:24. Whether you attended or missed out, here’s your chance to experience the top moments that made FMPS:24 unforgettable.

    🎬 Watch, share, and join the conversation!
    Don’t forget to use the hashtags #fmps #fmps24 #FMevents when sharing.

    Stay tuned for more events. See you next time!

    📣 Stay updated with the latest in finance and trading!
    Follow FMevents across our social media platforms for news, insights, and event updates.
    Connect with us today:

    🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
    👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
    📸 Instagram: https://www.instagram.com/fmevents_official
    🐦 Twitter: https://twitter.com/F_M_events
    🎥 TikTok: https://www.tiktok.com/@fmevents_official
    ▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official

    Don’t miss out on our latest videos, interviews, and event coverage.
    Subscribe to our YouTube channel for more!


    Relive the best moments from the Finance Magnates Pacific Summit 2024 with our highlights video! ✨

    From action-packed moments, insightful speaker sessions, the exclusive Opening Blitz, and immersive workshops, this video captures the energy and excitement of FMPS:24. Whether you attended or missed out, here’s your chance to experience the top moments that made FMPS:24 unforgettable.

    🎬 Watch, share, and join the conversation!
    Don’t forget to use the hashtags #fmps #fmps24 #FMevents when sharing.

    Stay tuned for more events. See you next time!

    📣 Stay updated with the latest in finance and trading!
    Follow FMevents across our social media platforms for news, insights, and event updates.
    Connect with us today:

    🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
    👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
    📸 Instagram: https://www.instagram.com/fmevents_official
    🐦 Twitter: https://twitter.com/F_M_events
    🎥 TikTok: https://www.tiktok.com/@fmevents_official
    ▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official

    Don’t miss out on our latest videos, interviews, and event coverage.
    Subscribe to our YouTube channel for more!

    Relive the best moments from the Finance Magnates Pacific Summit 2024 with our highlights video! ✨

    From action-packed moments, insightful speaker sessions, the exclusive Opening Blitz, and immersive workshops, this video captures the energy and excitement of FMPS:24. Whether you attended or missed out, here’s your chance to experience the top moments that made FMPS:24 unforgettable.

    🎬 Watch, share, and join the conversation!
    Don’t forget to use the hashtags #fmps #fmps24 #FMevents when sharing.

    Stay tuned for more events. See you next time!

    📣 Stay updated with the latest in finance and trading!
    Follow FMevents across our social media platforms for news, insights, and event updates.
    Connect with us today:

    🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
    👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
    📸 Instagram: https://www.instagram.com/fmevents_official
    🐦 Twitter: https://twitter.com/F_M_events
    🎥 TikTok: https://www.tiktok.com/@fmevents_official
    ▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official

    Don’t miss out on our latest videos, interviews, and event coverage.
    Subscribe to our YouTube channel for more!


    Relive the best moments from the Finance Magnates Pacific Summit 2024 with our highlights video! ✨

    From action-packed moments, insightful speaker sessions, the exclusive Opening Blitz, and immersive workshops, this video captures the energy and excitement of FMPS:24. Whether you attended or missed out, here’s your chance to experience the top moments that made FMPS:24 unforgettable.

    🎬 Watch, share, and join the conversation!
    Don’t forget to use the hashtags #fmps #fmps24 #FMevents when sharing.

    Stay tuned for more events. See you next time!

    📣 Stay updated with the latest in finance and trading!
    Follow FMevents across our social media platforms for news, insights, and event updates.
    Connect with us today:

    🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
    👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
    📸 Instagram: https://www.instagram.com/fmevents_official
    🐦 Twitter: https://twitter.com/F_M_events
    🎥 TikTok: https://www.tiktok.com/@fmevents_official
    ▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official

    Don’t miss out on our latest videos, interviews, and event coverage.
    Subscribe to our YouTube channel for more!

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