Congress Looks to Win Crypto Industry Votes
Anthony Scaramucci, founder of SkyBridge Capital and former White House communications director, has predicted that US lawmakers will propose crypto regulations before the 2026 midterm elections. Speaking to the Financial Times on Feb. 4, Scaramucci said lawmakers in competitive races would seek to demonstrate a record of voting for the crypto industry.
“You’ll probably get it in November of this year, before that recess,” he said, referring to a potential crypto regulation bill. He also speculated that if Congress does not act before the 2025 holiday break, further legislative action may be delayed indefinitely.
Will PACs and Special Interest Groups Influence 2026 Elections?
Besides the appeal to crypto-friendly voters, there are also bound to be the added layers of persuading deep-pocketed political action committees. Among them is Fairshake PAC, which reportedly spent $131 million on media buys for candidates in the 2024 elections and said it would continue operating into the 2026 midterms.
That could be a game-changer in campaigns, particularly for candidates whose views on regulation jibe with the crypto industry’s. The growing number of PACs active in politics shows that crypto-related policy will be a crucial issue in the next election cycles.
In 2024, the House of Representatives passed the Financial Innovation and Technology for the 21st Century Act, or FIT21-a bill aimed at setting firmer regulatory guidelines for crypto markets. The bill, however, stalled in the Senate, its future uncertain.
The Uncertain Future of Crypto Legislation
Scaramucci added that the lawmakers will try to bring similar legislation before the year is out. The impetus to act could be both from industry lobbying and the growing power of crypto voters. But any bill introduced into Congress faces an uphill battle given the political divide.
Scaramucci Slams Trump’s Crypto Strategy
He also called out former President Donald Trump’s involvement in crypto space, particularly about the launch of the memecoin. The TRUMP token he launched on Jan. 17 rose as high as $15 billion market capitalization and tumbled back to its value of around $3.5 billion now.
He argued that Trump’s crypto initiatives have more to do with political opportunism than real industry support and resemble scams that have plagued the space. With further discussions of regulation, the topic of Trump and crypto might continue into debates surrounding the 2026 elections.
