Crypto▲ Bullish
Cuomo Urges CLARITY Act Passage as Senate Sets September Vote
Cuomo warns the U.S. is behind on crypto rules as Senate schedules a Sept. 15 cloture vote. The CLARITY Act needs 60 votes to advance, but prediction markets see only a 20% chance of passage in 2026.
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Former New York Gov. Andrew Cuomo called on Congress to pass the CLARITY Act without further delay, warning the U.S. is falling behind other countries on crypto regulation. Speaking at the SALT Conference in Jackson Hole on Aug. 18, Cuomo said lawmakers need to resolve their differences and give the industry clear rules. “It can pass because it has to pass because we’re already way behind,” he said.
The CLARITY Act would create a federal framework for digital assets, defining which crypto products fall under the SEC or CFTC. Cuomo argued that businesses need to know where regulators will draw the line before they can confidently build and invest in the U.S. He also warned that leaving the job to federal agencies could produce rules that change whenever political control shifts in Washington.