Cuomo Says Crypto Must Balance Party Support for U.S. Rules

Former New York Gov. Andrew Cuomo said crypto’s strong backing of Republicans could alienate Democrats whose votes may be needed to pass U.S. digital-asset legislation.

Speaking Tuesday on a Token2049 panel with OKX CEO Star Xu, Cuomo said the industry had invested heavily in Republicans to advance the CLARITY Act.

“When you invest heavily in the Republican Party, by definition, you’re going to alienate Democrats,” Cuomo said.

Crypto-focused political action committees spent $54.3 million supporting Republican candidates during the 2026 election cycle, compared with $26.2 million supporting Democrats. They also spent $23.2 million opposing Democratic candidates.

The implied probability of Democrats winning both chambers of Congress stood at about 61% Thursday. Cuomo said a Democratic-controlled Congress could either roll back federal agencies’ crypto initiatives or work with the Trump administration to pass the full CLARITY Act.

“You need Democrats to pass the bill. You need Republicans. You have to be more balanced,” Cuomo said.

Cuomo also rejected the idea that Democrats are inherently opposed to crypto technology. He said digital assets could empower people who otherwise lack access to financial products, an objective he associated with Democratic policy.

“There’s a sense that Democrats are anti-crypto,” Cuomo said. “As a matter of fact, I could argue that the crypto technology is exactly suited to the Democratic Party.”

The CLARITY Act has drawn support from lawmakers in both parties. In July 2025, 78 House Democrats joined 216 Republicans to approve the bill, while 134 Democrats voted against it. Eighteen Democratic senators also supported the GENIUS Act, which passed the Senate in June 2025.

A September procedural vote on the CLARITY Act failed after all Senate Democrats and four Republicans opposed advancing it. Seven Democratic senators later issued a joint statement reaffirming their commitment to passing the CLARITY Act.

Fairshake announced Monday that its midterm slate would include 32 House candidates—19 Republicans and 13 Democrats. The group’s slate consists of candidates who voted to advance the CLARITY Act in 2025, as Fairshake’s support for 32 House candidates who voted to advance the CLARITY Act shows.