Former NY governor Andrew Cuomo, now co-chair of OKX-ICE venture, says CLARITY Act's remaining concerns can be worked out. House passed 294-134; Senate faces August 7 recess deadline.
Alpha Score of 49 reflects weak overall profile with moderate momentum, poor value, moderate quality, moderate sentiment.
Andrew Cuomo wants the Digital Asset Market Clarity Act to move forward without partisan fighting. The former New York governor, now co-chair of a joint venture between crypto exchange OKX and Intercontinental Exchange, said the bill's remaining concerns can be worked out through collaboration.
Cuomo joined the OKX board in 2026 and took the co-chair role at the venture with ICE, the company that owns the New York Stock Exchange. That partnership centers on 24/7 trading infrastructure, which Cuomo has called the future of finance. His core argument is that the CLARITY Act should not become a partisan football.
The bill itself has cleared the House and a Senate committee. The House passed H.R. 3633 in July 2025 by a 294-134 vote, a margin that signals genuine bipartisan support. The Senate Banking Committee approved its version on May 14, 2026, by a 15-9 vote.
The central question the bill addresses is jurisdictional: whether digital assets fall under the SEC or the CFTC. Clearer lines between the two agencies would reduce compliance risk for exchanges, token issuers, and DeFi protocols. The bill also sets up registration pathways for exchanges and brokers and creates a framework for spot trading in digital assets.
Time is tight. Senate Majority Leader John Thune has suggested extending sessions beyond the scheduled August 7 recess to give the bill floor time. If the Senate does not act before that break, the momentum from the House and committee votes could fade into the fall calendar. A delay risks the US losing its crypto lead, Florida Senator Joe Haridopolos has warned.
Cuomo has also been vocal about conflicts of interest among legislators who trade stocks while shaping the rules that govern financial markets. Those ethics questions need to be addressed as part of the broader regulatory conversation, he said.
AlphaScala rates ICE at 48 out of 100, a Mixed score, reflecting the uncertainty around the regulatory timeline. A bipartisan passage would likely lift that score; a prolonged delay would weigh on it.
The August 7 recess is the next concrete marker.
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