Former NY Governor Andrew Cuomo warned at Token2049 Singapore that crypto regulations pushed by the SEC and CFTC—meant to fill gaps left by the failed Clarity Act—are politically vulnerable.
Cuomo expects Democrats to challenge the current administration as corrupt and claim its crypto actions favor donors. That political fight will drive oversight, potentially hurting the industry.
Cuomo outlined Congress's tools: cutting agency funding, overriding agency actions via legislation, or using the Congressional Review Act to repeal rules. Congressional investigations and public hearings could also create chaos.
He urged the next Congress to pass bipartisan digital asset legislation—though it's unclear if that will happen.
Separately, the crypto-TradFi convergence is accelerating. The recent $NYSE-$OKX partnership is a key example. Compliance is now a major differentiator for Tier 1 crypto players, especially as traditional finance and digital assets merge. $OKX has been leading on compliance innovation, particularly around AI agents.
Cuomo expects Democrats to challenge the current administration as corrupt and claim its crypto actions favor donors. That political fight will drive oversight, potentially hurting the industry.
Cuomo outlined Congress's tools: cutting agency funding, overriding agency actions via legislation, or using the Congressional Review Act to repeal rules. Congressional investigations and public hearings could also create chaos.
He urged the next Congress to pass bipartisan digital asset legislation—though it's unclear if that will happen.
Separately, the crypto-TradFi convergence is accelerating. The recent $NYSE-$OKX partnership is a key example. Compliance is now a major differentiator for Tier 1 crypto players, especially as traditional finance and digital assets merge. $OKX has been leading on compliance innovation, particularly around AI agents.
