author
Ahmed Barakat
author
Share
Fact verified by
CryptoNews editorial team
author
Anthony Scaramucci warned of the news that The law of clarity The Senate may not acquit until 2029, citing banking pressure and political gridlock as the primary killing mechanisms. Under the current mechanism, institutional compliance teams cannot approve allocations to asset classes that lack legal legal classification.
Fiduciaries operating under ERISA or similar mandates cannot leverage an unregulated asset class without triggering liability exposure. Without the Clarity Act defining the lines of jurisdiction between the SEC and CFTC, the top tier tokens — Solana, Avalanche, and TON — remain in a limbo of legal classification that keeps them off the approved asset lists of most major dealers.
discovers: How institutional adoption shifts during regulatory uncertainty
The 2029 timeline is not just a delay of the law of clarity, but a different market structure
Scaramucci, founder of SkyBridge Capital, did not consider this a temporary setback. He identified three specific political fractures that made Senate passage structurally difficult: Trump’s coin launch before his inauguration alienated pro-crypto Democrats, threats to annex Greenland that burned the NATO ally’s goodwill, and an unannounced Iranian military campaign accompanied by a $200 billion defense request that consumed the entire Senate’s bandwidth.
The above result, in Scaramucci’s assessment, is that the president’s opposition has shifted to opposition to any bill that can claim a win, including Bitcoin regulation.
He clearly stated the dynamic:
“I don’t see anyone who is against the president being allowed to win on cryptocurrency policy right now.”
Historical comparisons make the delay appear more structurally entrenched. Dodd-Frank went from crisis to signature in 14 months. The JOBS Act was passed in less than 12 minutes. The Clarity Act has been in active legislative motion since 2023, passed the House in July 2025 on a bipartisan vote of 294-134, and is still unable to gain Senate support.
The ruling is clear and straightforward: in the absence of a law of clarity, institutional adoption is concentrated in Bitcoin, the only asset class that has already achieved de facto commodity status through ETF approval, while everything below it in the cap table remains frozen out of serious institutional portfolios.
Discover: The best pre-launch token sales
Regulation by execution creates a volatility floor that even ETFs cannot absorb
The specific problem with prolonged regulation by enforcement is not that it prevents capital from entering the market. Spot Bitcoin ETFs have already proven that this is not the case. The problem is that it makes implementation procedures unpredictable, and unpredictable implementation is structurally inconsistent with determining the size of the institutional situation.
When the SEC moves against an exchange or token issuer without a legal framework defining what constitutes a security, the major risks are unpredictable. Institutions modeling risk cannot establish a regulatory floor, which means they cannot confidently size positions, which means allocations remain smaller and more liquid than they would be under a specific legal regime.
Arthur Hayes has separately argued this Bitcoin’s value proposition exists precisely outside the regulatory system. However, this framing does not help compliance officers at pension funds or sovereign wealth vehicles who need a legal classification, not a philosophical argument.
“I don’t see anyone who is against the president being allowed to win on cryptocurrency policy right now.” – Anthony Scaramucci, SkyBridge Capital, Solana Policy Summit
Scaramucci pointed to an “extended cut” as a possible price regime during the remainder of Trump’s term without passage, a cap determined not by bitcoin’s fundamentals but by the lack of a regulatory floor beneath everything else. As long as execution remains the primary lever of market structure, the ceiling for ETF flows remains lower than what the underlying asset cycle would support.
Discover: The best cryptocurrencies to diversify your investment portfolio
