Cuomo urges bipartisan digital asset law to keep U.S. crypto rules from shifting with elections

Some are warning that U.S. cryptocurrency regulation could be jolted by the outcome of the next election.

Cointelegraph, a blockchain media outlet, reported on Oct. 6 that former New York Governor Andrew Cuomo (앤드루 쿠오모) argued that Congress should quickly draw up bipartisan digital asset legislation that can be maintained even if political power changes hands.

The key issue is that the foundation of current U.S. crypto regulation leans more heavily on administrative actions by federal regulators than on congressional legislation. Cuomo noted that the Clarity Act, which passed the U.S. House of Representatives in 2025, aimed to create a nationwide regulatory framework for digital assets and delineate the roles of the Securities and Exchange Commission and the Commodity Futures Trading Commission. The Senate failed to advance the bill in September, and a final bill to be sent to the president has not yet been prepared.

Amid that vacuum, the SEC and the CFTC are accelerating the introduction of new rules. Cuomo viewed the two agencies as significantly reshaping market structure by pursuing separate regulatory regimes for crypto trading platforms and some crypto assets. He said such regulation could create new market opportunities in the short term, but argued the current system lacks durability because it relies on existing legal authority without a market structure law enacted by Congress.