US lawmakers may propose crypto regulations before November
Anthony Scaramucci, founder of SkyBridge Capital and former White House communications director, has suggested that U.S. lawmakers could introduce new crypto regulations by November 2025.
In an interview with the Financial Times on February 4, Scaramucci stated that members of Congress facing tight reelection campaigns might prioritise proposing crypto legislation to appeal to industry supporters and voters.
He predicted a "burst of legislative activity" before Congress breaks for the holiday recess in late 2025, potentially including a crypto market structure bill.
“You’ll probably get it in November of this year, before that recess,” Scaramucci said.
“But if you don’t, I don’t think you’ll get it much later than the timeline I’m suggesting,” he added.
The push for crypto regulation coincides with growing political action committee (PAC) involvement in U.S. elections.
The Fairshake PAC, which spent approximately $131 million on media campaigns during the 2024 elections, has indicated plans to remain active in the 2026 midterms.
Pro-crypto PACs are expected to influence lawmakers’ decisions as they seek support from the cryptocurrency industry.
In 2024, the House passed the Financial Innovation and Technology for the 21st Century Act (FIT21), a bill designed to clarify crypto regulations.
However, the Senate did not take up the legislation during the 118th Congress, leaving its future uncertain.
Scaramucci also criticised former President Donald Trump’s involvement in cryptocurrency, particularly his launch of a memecoin called TRUMP (CRYPTO:TRUMP) coin.
The token’s market capitalisation surged to over $15 billion within 48 hours of its release on January 17 but later dropped to around $3.5 billion.
Scaramucci described Trump’s actions as “bad for the industry” and compared the token to scams that have plagued the cryptocurrency space.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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