Scaramucci, Armstrong Defend CLARITY Act Amid Senate Setback

SkyBridge Capital founder Anthony Scaramucci has come to the defense of Coinbase Global Inc. (NASDAQ:COIN) CEO Brian Armstrong after a long-awaited crypto regulatory bill, the CLARITY Act, failed to advance in the Senate.

The bill aimed to create a federal framework dividing crypto oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission.

Scaramucci called the bill's collapse 'typical Washington nonsense,' arguing that partisan rancor, not policy failure, sank a compromise bill he said 'helped all Americans.'

Armstrong also pushed back against reporting that singled him out for blame, saying The Wall Street Journal was preparing a story with 'bank lobby talking points' instead of fairly representing his advocacy efforts.