Andrew Cuomo says crypto industry needs bipartisan backing to move the CLARITY Act

Former New York Governor Andrew Cuomo said at Token2049 that the crypto industry’s heavy support for Republicans has alienated Democrats, even though federal crypto legislation in the United States will require support from both parties. He said the industry had previously made a major push behind Republicans to advance the CLARITY Act, but argued that a more balanced political approach is necessary because Democrats and Republicans are both needed to pass legislation. Cuomo pointed to spending in the 2026 election cycle, saying crypto-related political action committees have spent $54.3 million backing Republicans, compared with $26.2 million supporting Democrats. Another $23.2 million has gone toward opposing Democratic candidates. He also pushed back on the idea that Democrats are inherently anti-crypto, arguing that crypto technology aligns with Democratic values because it can expand access to financial services for people who have traditionally been excluded from financial products. Looking ahead, Cuomo said that if Democrats control Congress after the midterm elections, they could either try to weaken the Trump administration’s crypto policies or work with it to pass a full CLARITY Act. He also noted that Fairshake has said it will support 32 House candidates in the November midterms, including 19 Republicans and 13 Democrats.