Anthony Scaramucci, a former White House Communications Director, voiced his concerns over the Gary Gensler-led SEC’s increasing oversight of cryptocurrency platforms and its potential impact on Kamala Harris’ chances in upcoming elections.

What Happened: In an X post Wednesday, Scaramucci expressed shock at SEC issuing a a Wells notice to NFT marketplace OpenSea, indicating the regulatory body's intent to sue the company.

The SEC has escalated monitoring of the cryptocurrency and blockchain space, with leading companies such as Coinbase, Kraken, and Robinhood facing enforcement action.

Scaramucci, a democratic-leaning cryptocurrency supporter, insinuated that Gensler’s hostile policies could cost Harris the presidency in upcoming elections.

Gensler wants Harris to lose the election. https://t.co/GT2PpaGIt8 — Anthony Scaramucci (@Scaramucci) August 28, 2024

See Also: Cardano’s ‘Chang’ Hard Fork Network Upgrade Delayed Until September

Why It Matters: SkyBridge Capital CEO Scaramucci has been a vocal proponent of bipartisan cryptocurrency regulation, and expressed confidence that the Democratic administration led by Harris would make it happen by 2025.

He has also strongly refuted rumors that Harris will nominate Gensler as Treasury Secretary if she comes back to power.

Though a vocal critic of former President Donald Trump, under whom he served a brief 11-day stint in the White House. Scaramucci acknowledged in a recent podcast that the Republican presidential candidate is better for the cryptocurrency industry “in general.”

Photo by World Economic Forum on Flickr

Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

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