Andrew Cuomo: The crypto industry needs to balance bipartisan support to push for the CLARITY Act

Former Governor of New York, Andrew Cuomo, stated on Token2049 that the cryptocurrency industry has heavily supported the Republican Party and has distanced itself from the Democratic support needed to push for the CLARITY Act. During the 2026 election cycle, the Crypto Industry Political Action Committee has spent $54.3 million to support the Republican Party, $26.2 million to support the Democratic Party, and $23.2 million to oppose the Democratic Party. As of Thursday, Kalshi predicts a 61% probability that the Democratic Party will win both houses of the US Congress. Andrew Cuomo believes that the Democratic controlled Congress may withdraw regulatory agencies' encryption policies or collaborate with the Trump administration to push for a complete CLARITY Act. Andrew Cuomo stated that the Democratic Party is not opposed to encryption technology, which can help people who cannot access financial products to access services. In July 2025, 78 Democratic members of the House of Representatives and 216 Republican members voted together to pass the CLARITY Act.