Andrew Cuomo Urges U.S. Lawmakers To Pass Clarity Act

Former New York Governor and current OKX director Andrew Cuomo wants U.S. lawmakers to stop stalling and pass the Clarity Act before the August recess. Speaking on television this week, Cuomo stressed that the crypto industry desperately needs clear rules to operate fairly.

Disagreements over ethics language remain the main hurdle between Democrats and Republicans. Some Democrats want stricter bans on government officials making money from digital assets, pointing to the Trump family business interests. A new bipartisan draft of the bill now includes rules to bar officials from promoting or profiting from crypto.

Cuomo warned that the United States is falling behind other countries where digital asset technology and regulations are already flourishing. He noted that crypto firms are seeing massive growth in Europe while American innovation stays restricted by regulatory delays.

Traders and industry participants should watch the Senate closely over the coming days. If the White House and lawmakers approve the updated ethics language, the bill could finally move forward and shape the future of American crypto regulation.