Anthony Scaramucci Slams 'Banking Lobby' for 'Last Minute Effort to Stall Things' as Crypto Act Comes Under Fire: 'Expose the Ciphers'

SkyBridge Capital founder Anthony Scaramucci criticized the “banking lobby” on Tuesday for employing tactics aimed at delaying the CLARITY Act.

‘Expose the Ciphers’

Scaramucci responded to a Wall Street Journal editorial titled, “Clarity for Crypto, Sort Of,” which deemed the legislation a policy landmine riddled with “regulatory loopholes.”

The piece flagged concerns over rules allowing cryptocurrency companies to offer rewards on stablecoin holdings, adding that such measures could pose risks to banking institutions, particularly small banks.

Scaramucci, a vocal advocate of the legislation, slammed the banking lobby for launching a “last-minute effort to stall things.”

“Expose them. And expose the ciphers working against progress. Free the system from this nonsense,” the Bitcoin (CRYPTO: BTC) bull added.

The WSJ didn’t immediately return Benzinga’s request for comment.

Banks Vs. Crypto

The disagreement over stablecoin rewards remains a key point of contention between cryptocurrency firms and traditional banks.

JPMorgan Chase & Co. (NYSE:JPM)  CEO Jamie Dimon argues that the structure would create direct competition with banks without imposing equivalent safeguards, warning lawmakers to move cautiously on the clause.

Cryptocurrency executives have argued that lawmakers—not financial institutions—should determine the future framework for cryptocurrency in the U.S.

Scaramucci’s Frustration With Dems, Republicans

Scaramucci has been critical of both Democrats and Republicans for failing to reach a bipartisan compromise on the vital legislation that aims to establish clearer rules for the cryptocurrency industry.

He accused Republicans of intentionally delaying the CLARITY Act in the Senate to scapegoat Democrats and later cash in on political donations. At the same time, he has warned Democrats that they will regret resisting the legislation at the ballot box in November.

The Senate heads into recess at the end of this week. If the bill does not clear before then, September becomes the next realistic window, and a failed September vote likely pushes it past the midterms entirely.

Polymarket prices the odds of the bill becoming law in 2026 at 23% as of this writing.

Photo Courtesy: Al Teich On Shutterstock.com