Former New York Gov. Andrew Cuomo urged Congress to pass the Clarity Act, arguing the U.S. is already behind other jurisdictions in setting rules for digital assets and risks losing business and investment if lawmakers fail to act. Speaking Tuesday at the SALT conference in Jackson Hole, Wyoming, Cuomo said the bill would establish federal crypto market rules and clarify which regulators oversee different tokens, including whether they are treated as securities or commodities, giving exchanges, token issuers and traditional financial firms a clearer sense of which laws apply. The Senate left for its August recess without voting on the measure, though Majority Leader John Thune has scheduled an initial procedural vote for after lawmakers return next month; Senate Democrats are seeking stronger ethics language, while law enforcement provisions and stablecoin rewards remain unresolved. Cuomo said years of uncertainty have made U.S. product development harder and warned that, without legislation, regulators will keep filling the gap and policy could shift with changes in political power. He has a direct interest in the outcome as leader of a joint venture between OKX and Intercontinental Exchange, owner of the New York Stock Exchange.