Andrew Cuomo Warns Crypto Regulations Face Reversal Under New Congress

Former New York Governor Andrew Cuomo, who serves on the board of OKX, warned that current crypto regulations established by agencies are fragile and could be overturned if Democrats win control of Congress. The Senate recently blocked the CLARITY Act on September 15 with a 49-50 vote, failing to reach the 60-vote threshold. While the SEC granted a five-year exemption for tokenized stock trading on September 17, Cuomo emphasized that agency-led rules lack the permanence of legislation. He expressed hope that the bill might pass during the lame-duck session, though a potential Democratic majority could complicate future efforts.