According to Odaily, Anthony Scaramucci, founder and managing partner of Skybridge Capital, has expressed concern over President Joe Biden's stance on cryptocurrency. Scaramucci believes that Biden's position could potentially cost him greatly. He specifically criticized Biden's decision to veto the SAB 121 bill, especially at this crucial time. Previously, President Biden had vetoed a resolution aimed at overturning the controversial cryptocurrency accounting standard SAB 121 set by the U.S. Securities and Exchange Commission (SEC). In an official statement on May 31, Biden stated, 'Overturning the SEC staff's well-considered judgment in this way could undermine the SEC's broader authority in accounting practices.' Biden further stated that his administration would not support measures that jeopardize the welfare of consumers and investors. Scaramucci's comments highlight the ongoing debate surrounding the regulation of cryptocurrencies. As the founder of a major investment firm, his views carry significant weight in the financial community. However, it remains to be seen how Biden's stance on cryptocurrency will evolve and what impact it will have on the industry.
