Thom Tillis

Former New York Gov. Andrew Cuomo urged Congress to pass the CLARITY Act, arguing that clearer federal rules are needed for crypto firms and traditional financial institutions. He warned that leaving policy to regulators could create shifting standards as political control changes in Washington.

Senators Thom Tillis and Ruben Gallego are said to have finalized an approach to the crypto Clarity Act’s disputed ethics section, though details remain undisclosed. The compromise could determine whether the broader digital asset market structure bill can gather enough support before the Senate’s August recess.

The Digital Asset Market Clarity Act is facing a deepening Senate fight over ethics limits aimed at senior government officials and President Donald Trump’s crypto interests. Democrats say the proposed restrictions are too weak, while the White House and Republican supporters argue the concessions are historic and should clear the way for passage.