Andrew Cuomo, former New York governor and board member of crypto exchange OKX, is pressing Congress to pass the CLARITY Act (H.R. 3633), legislation designed to clarify digital asset regulation. The bill passed the House in July 2025 but faces partisan roadblocks in the Senate over ethics provisions concerning government officials profiting from digital assets. The Senate version has grown to 616 pages, and Majority Leader John Thune filed a cloture motion on August 8, 2026, to force a vote. Prediction markets on Polymarket give the bill only a 17% chance of becoming law in 2026. Cuomo warns that without a unified federal framework, US crypto markets will remain fragmented and unpredictable, pushing institutional capital toward jurisdictions with clearer rules.
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