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A new report reveals that New York mayoral frontrunner Andrew Cuomo worked as a paid advisor to cryptocurrency exchange OKX while the company was under federal investigation. The revelation raises questions about Cuomo’s ties to the crypto industry and potential conflicts of interest as he campaigns for office.
Cuomo’s Role with OKX
According to sources, Cuomo was brought on as an advisor to help OKX navigate a federal probe related to its compliance with U.S. financial regulations. His responsibilities reportedly included providing strategic guidance and assisting with regulatory challenges. The exact nature of his compensation has not been disclosed.
OKX, one of the world’s largest crypto exchanges, has faced increasing scrutiny from U.S. regulators, particularly regarding anti-money laundering (AML) compliance and adherence to securities laws. The company has yet to comment on Cuomo’s involvement or whether his advice influenced its regulatory strategy.
Political and Regulatory Implications
Cuomo’s advisory role could have several implications for his mayoral campaign and the broader crypto industry:
- Potential Conflict of Interest – As a leading candidate for New York City mayor, Cuomo’s past work with a crypto exchange under investigation may raise ethical concerns among voters and regulators.
- Crypto Regulation in NYC – New York has some of the strictest crypto regulations in the U.S., and Cuomo’s ties to OKX could impact his stance on policies affecting the industry.
- Increased Scrutiny on Crypto Firms – The report may prompt further investigation into OKX’s dealings with political figures and whether such relationships influence regulatory outcomes.
Cuomo’s campaign has not issued a formal response to the report, but political opponents may use the revelation to challenge his credibility. Meanwhile, regulatory agencies could face renewed pressure to ensure transparency in how crypto firms engage with policymakers and advisors.
With crypto regulation remaining a contentious issue in New York, Cuomo’s connections to the industry are likely to be a focal point as the mayoral race progresses.
