In a noteworthy development involving regulatory probes and high-profile advisory roles, former New York Governor Andrew Cuomo has taken on a new role in the world of cryptocurrency. After resigning from his position amid various controversies, Cuomo has advised the offshore cryptocurrency exchange OKX on navigating a significant federal investigation. This probe, conducted by the FBI and prosecutors from the Southern District of New York, culminated in OKX pleading guilty to operating illegally within the United States.
Cuomo’s involvement with the Seychelles-based OKX entailed providing strategic advice on policy matters and guiding the exchange’s response to the federal investigation. OKX’s legal troubles in the U.S. highlight the ongoing challenges faced by cryptocurrency exchanges in ensuring compliance with U.S. regulations.
The advisory role comes at a busy time for Cuomo, who is also a New York City mayoral candidate. His work with OKX marks a significant chapter in his post-gubernatorial career, reflecting a shift in his professional focus toward the cryptocurrency sector, which is often fraught with regulatory hurdles and legal complexities.
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