Andrew Cuomo urges swift passage of Clarity Act for crypto regulation
By: rootdata|2026/08/06 21:46:18
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Prefer us on GoogleAndrew Cuomo, former New York governor and director of crypto exchange OKX, emphasized the need for lawmakers to expedite the Clarity Act, which aims to establish clear crypto regulations in the U.S. Cuomo noted that Democrats and Republicans are primarily at odds over the bill's ethics language. Several lawmakers are pushing for the Clarity Act to be passed before Congress's August recess. The House of Representatives approved the bill last year, but unresolved issues remain. Cuomo stated, "We need clarity. Tell me the rules --- I want to play the game fairly, but you have to tell me the boundaries, and that's what the Clarity Act is all about." He mentioned that Democrats are raising concerns about the Trump family's financial gains in crypto, which has led to ongoing discussions about ethics. A new draft of the Clarity Act addressing ethics has emerged, prohibiting government officials from promoting or profiting from crypto. Some Democrats have criticized President Trump's crypto interests, alleging conflicts of interest due to his family's earnings from meme coins and World Liberty Financial. The White House is reviewing the bipartisan changes to the ethics section of the bill this week. Cuomo cautioned that Democrats should be mindful of their own potential conflicts of interest while discussing the issue. He warned that the U.S. is falling behind in crypto innovation compared to Europe, where regulations are being implemented and technology is thriving.
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