Crypto’s newest US regulatory gains could be short-lived, Andrew Cuomo says, because a new Congress can challenge agency rules.

Cuomo sits on the board of crypto exchange OKX and co-chairs its joint venture with Intercontinental Exchange (ICE). He told Bloomberg that regulators’ stopgap rules are far more fragile than legislation.

Regulation Now Rests on Agency Rules

The Senate blocked the Clarity Act, a bill setting federal rules for crypto markets, on Sept. 15. The vote landed at 49 to 50, well short of the 60 needed to advance.

CNBC reported that Democrats wanted tougher ethics…