Crypto Briefing • October 8th 2026, 5:17 AM
Cuomo urges crypto industry to back both parties to pass federal rules
Key Summary
Former New York Governor Andrew Cuomo advises the crypto industry to support both Democratic and Republican candidates to ensure a federal law on digital assets is passed and lasts. He warns against leaning on agency actions and emphasizes the need for a regulatory framework that can withstand changes in party control.
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What Cuomo is asking for
Cuomo's pitch centers on durability. He wants a regulatory framework that holds up regardless of which party controls Congress or the White House.The stalled CLARITY Act
The House passed the CLARITY Act in 2025. Then it hit the Senate, where things slowed considerably.Industry groups' spending
Industry groups have spent tens of millions supporting pro-digital-asset candidates ahead of upcoming elections.Cuomo's own crypto credentials
Cuomo is not commenting from the sidelines. He joined the board of crypto exchange OKX in July 2026. He also co-chairs a joint venture with Intercontinental Exchange (ICE).What this means for crypto
For investors, the core issue is regulatory risk. Without a federal law, the rules governing tokens, exchanges and custody can shift depending on who runs the SEC and the CFTC. A bipartisan CLARITY Act could change that calculus. Clear jurisdiction between the two regulators would tell exchanges which licenses they need and tell token issuers which disclosure rules apply.#Crypto#US#SEC#CFTC