Cuomo urges crypto industry to back both parties as CLARITY Act stalls in Senate
In brief
- Andrew Cuomo urged crypto firms to balance support between Democrats and Republicans, per Crypto Briefing.
- Crypto laws only pass, and only last, when both parties have a stake, Cuomo argued.
- CLARITY Act cloture vote failed 49-50 in the Senate on September 15, 2026, Crypto Briefing reported.
- Cuomo sits on OKX's board and co-chairs an ICE tokenization venture, both reliant on predictable rules.
Why Cuomo wants both parties on board
Cuomo wants a regulatory framework that holds up regardless of which party controls Congress or the White House, Crypto Briefing reported. He also warned against leaning on agency actions to set the rules. In his view, guidance and enforcement priorities from regulators can flip quickly after an election (leaving the sector exposed to sudden policy reversals).
That's the core of his pitch.
Industry groups have spent tens of millions supporting pro-digital-asset candidates ahead of upcoming elections, the outlet noted. Cuomo's argument is that the support needs to be spread across both sides of the aisle if the industry wants rules that stick.
Where the CLARITY Act stands
The CLARITY Act aims to spell out which federal regulator oversees which digital assets, splitting authority between the SEC and the CFTC. The House passed it in 2025. It's been a different story in the Senate, where bipartisan disagreements have kept senators from reaching consensus, and on September 15, 2026, a cloture vote to move the bill forward failed 49-50, according to Crypto Briefing. Cloture is the procedural step the Senate uses to end debate and advance a bill toward a final vote; losing it leaves the legislation stalled.
Why does that matter? Without a federal law, Crypto Briefing noted, the rules governing tokens, exchanges and custody can shift depending on who runs the SEC and the CFTC. Clear jurisdiction would tell exchanges which licenses they need and tell token issuers which disclosure rules apply.
The split isn't simple, though (the outlet pointed to real disagreements about investor protection and regulatory reach).
Cuomo's ties to the industry
Cuomo's business roles are relevant context here. He joined the board of crypto exchange OKX in July 2026, and he co-chairs a joint venture with Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, that's focused on tokenized assets and upgrading trading infrastructure, per Crypto Briefing. The report noted that both are building businesses that depend on predictable rules for trading and tokenization.
He's not new to crypto regulation, either. Crypto Briefing also pointed to his time as governor, crediting him with New York's 2015 BitLicense, which the outlet called one of the most significant state-level crypto regulatory frameworks.
Frequently asked questions
What is the CLARITY Act?
The CLARITY Act is a federal bill that aims to spell out which regulator oversees which digital assets, dividing authority between the SEC and the CFTC. The House passed it in 2025, but progress slowed in the Senate, according to Crypto Briefing.
Why did the CLARITY Act stall in the Senate?
Bipartisan disagreements kept senators from reaching consensus on the bill, Crypto Briefing reported. On September 15, 2026, a cloture vote to advance it failed 49-50, according to the outlet. Cloture is the step the Senate uses to end debate and move a bill toward a final vote, so failing it leaves the legislation stalled.
Why does Cuomo want crypto firms to support both parties?
According to Crypto Briefing, Cuomo argued that crypto legislation only passes, and only lasts, when both parties have a stake in it. He wants a framework that holds up regardless of who controls Congress or the White House, and he warned that agency guidance and enforcement priorities can flip quickly after an election.
