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Cuomo urges Congress to pass crypto clarity bill before August recess
He said disputes over ethics language are delaying the House-passed Clarity Act, and a new ethics draft is now being reviewed by the White House.
Former New York Gov. Andrew Cuomo urged lawmakers to move faster on the Clarity Act, calling it highly political and saying Democrats and Republicans are focused on ethics language in the draft bill, according to Bitcoin Magazine.
Cuomo, who is also director of crypto exchange OKX, said some lawmakers want the legislation passed before Congress leaves for the August recess. The bill passed the House last year, but sticking points remain as a new draft circulates to address ethics provisions, including banning government officials from promoting or making money from crypto.
Bitcoin Magazine reports Cuomo also argued that lawmakers need clear rules so participants can “play the game fairly,” and he criticized ongoing delays for allowing innovation to lag behind other regions.
He referenced a White House review of updated, bipartisan language tied to the ethics section, adding that OKX is expanding in Europe as other jurisdictions advance regulation, while the U.S. does not yet see the same momentum, the outlet said.
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