Former White House Communications Director Anthony Scaramucci has expressed concern over U.S. President Donald Trump's expanding involvement in the cryptocurrency industry, warning it could jeopardize bipartisan efforts to establish sound digital asset policies.

What Happened: Speaking at the Financial Times Digital Asset Summit, Scaramucci criticized what he described as "distractions" posed by Trump-related crypto ventures, including a Solana SOL/USD-based meme coin, a stablecoin backed by his son Eric Trump, and multiple business partnerships with entities like Crypto.com.

He argued these ventures could potentially open "pathways for corruption, bribery, and other sinister behavior."

"Even if we give them the benefit of the doubt," Scaramucci said of the Trump family's crypto interests, "the presence of these ventures complicates efforts to build consensus in Washington, particularly with older legislators still skeptical about crypto."

Scaramucci acknowledged the Trump administration's overall performance in the crypto sector, giving it a “B-plus, A-minus” rating and praising crypto advisor David Sacks for building bridges with Democratic lawmakers.

Still, he criticized Trump's executive order to establish a strategic Bitcoin BTC/USD reserve, arguing that such unilateral action undermines long-term stability since a future administration could easily reverse it.

"What's needed is bipartisan commitment, not executive fiat," Scaramucci said, comparing Bitcoin's role in the U.S. economy to essential commodities like oil or rare earth metals.

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Why It Matters: Democratic lawmakers have increasingly scrutinized Trump's crypto dealings, particularly following the announcement of an exclusive gala dinner for top holders of the Trump TRUMP/USD meme coin, a move that sent the coin's price soaring.

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Senators Elizabeth Warren (D-Mass.) and Adam Schiff (D-CA) warned that the dinner could amount to "pay-to-play" politics by providing preferential access to the presidency in exchange for investment.

Warren has also flagged potential corruption linked to World Liberty Financial, a firm co-founded by Eric Trump.

She cited a proposed $2 billion investment by Emirati firm MGX into Binance, to be settled using the firm's USD1 stablecoin, as raising serious red flags.

The mounting controversy has already disrupted legislative momentum.

Democratic Senators recently blocked fast-tracking the GENIUS Act, a key piece of crypto legislation, while House Democrats led by Rep. Maxine Waters walked out of a digital assets hearing.

Waters voiced frustration at the influence of Trump's personal financial interests on policy progress.

"We were close to passing a stablecoin bill," she said, "but Trump's brazen ownership of a crypto company, and using the presidency to attract investors, is unacceptable."

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