The US CLARITY Act, which aims to provide more regulatory clarity to the US crypto industry, will likely be finalized in May, according to Mike Novogratz, CEO of Galaxy Digital.
“So, it’s going to be done. It’ll probably be done in May. I would say the first week of May is when this will go to committee, and then, you know, shortly after that, Trump will sign this thing in June,” Novogratz said SkyBridge Capital founder Anthony Scaramucci in a podcast published Friday on YouTube.
“It’s extremely important that this is done for both Democrats and Republicans,” Novogratz added, following a disappointing week for the crypto industry after the Senate Banking Committee failed to schedule a markup hearing by Friday, as many in the industry had expected.
Novogratz reiterated that the legislation will allow large organizations, such as SpaceX and Google, to be “tokenized and sold to people around the world.”
The CLARITY Act could open the US economy to more than 5 billion people
“There are eight and a half billion people, probably five and a half billion, who don’t have access to our financial products,” Novogratz said, adding:
“This phone with a crypto wallet will be the way that the child of Bhutan, Botswana, Bolivia or Paraguay, etc., participates in the American economy.”
The passage of the US CLARITY Act is seen as a major potential catalyst not only for the crypto market but also for broader innovation in the country, particularly after a number of companies left the US under the previous Biden administration due to an unfavorable regulatory environment.
Source: Nick Puckrin
Many in the crypto market expected the CLARITY Act to be approved by Congress earlier this year, especially after it passed the House in July 2025 with bipartisan support.
However, ongoing disputes have slowed progress, including a clash between the banking sector and the crypto industry over whether stable coin yields could hurt banks’ competitiveness.
U.S. Senator Cynthia Lummis warned on April 10 that the window for passage of the bill was in danger of closing.
“This is our last chance to pass the Clarity Act until at least 2030. We cannot afford to give up on America’s financial future,” Lummis said. said in an X post.
Some industry executives are skeptical of the CLARITY Act’s timeline.
Others in the industry are more skeptical about its chances of success this full year.
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Alex Thorn, head of enterprise-wide research at Galaxy Digital, said in an X article on Wednesday that he puts the current chance of the CLARITY Act passing in 2026 at 50%.
Source: Leo Lanza
Spiked said in a report on the same day that the Senate Banking, Housing and Urban Affairs Committee (SBC) was expected to announce a markup hearing this week, likely for the last week of April, but that did not happen.
“If the increase goes beyond mid-May, the odds will drop sharply,” Thorn added.
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