Crypto Regulation Could Spark Next Bull Market, Says Scaramucci
Anthony Scaramucci, founder of Skybridge Capital, believes clear crypto regulations could be the key to igniting the next bull market.
In a recent interview on CNBC, Scaramucci, along with other industry leaders like Mark Cuban and Michael Novogratz, stated that they recently met with officials in Washington D.C. to address the potential risks of a hard-line approach to crypto regulation by Senator Elizabeth Warren and SEC Chair Gary Gensler.
“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,” said Scaramucci.
He went on to compare the current situation with crypto to the early days of Uber, stating that regulators initially resisted the ride-sharing service but ultimately embraced clear regulations 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.”
Scaramucci also believes that younger Democrat voters are increasingly recognizing the potential of crypto and are pushing for a more balanced approach to regulation.
“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.”
While Scaramucci’s views are optimistic, it remains to be seen how the regulatory landscape for crypto will ultimately develop. However, his comments highlight the growing importance of clear and reasonable regulation in the industry.
