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Mike Novogratz expects CLARITY Act progress in May, with possible signing by June despite recent Senate delays.
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Passage odds remain uncertain near 50%, with disputes over stablecoin rules slowing legislative momentum.
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Bill seen as key for crypto adoption, enabling tokenization and expanding global financial access opportunities.
The U.S. CLARITY Act could move forward in May and reach signing by June, according to Galaxy Digital CEO Mike Novogratz, who spoke alongside Anthony Scaramucci. The update follows delays in Washington after no markup hearing was scheduled last week. Lawmakers now face a narrowing window as industry participants watch for progress on the long-awaited crypto framework.
Timeline Shifts After Senate Delay
According to Mike Novogratz, the bill “will probably get done in May,” with committee review expected soon. He added that the legislation could reach the president’s desk by June. However, the Senate Banking Committee did not schedule the expected April markup.
This delay has shifted expectations into May. As a result, the timeline has tightened for lawmakers. Senator Cynthia Lummis warned that failure to act soon could delay progress until at least 2030.
Passage Odds Remain Uncertain
Meanwhile, uncertainty persists within the industry. Galaxy Digital head of research Alex Thorn estimates a 50% chance of passage in 2026. He stated that if markup moves past mid-May, the probability could decline sharply.
This outlook reflects ongoing disagreements in Washington. Notably, disputes over stablecoin yields continue to slow the legislative process. These issues remain unresolved as lawmakers approach the next decision window.
Market Impact and Broader Context
Novogratz said the bill carries importance for both political parties and the crypto sector. He noted that clearer rules could expand access to financial systems globally. He added that billions of people lack access to traditional financial products.
In addition, he pointed to tokenization as a key development. He said companies like Google and SpaceX could eventually become accessible through digital assets. This concept links the bill to broader financial innovation efforts.
At the same time, market dynamics add pressure. Novogratz highlighted recent Bitcoin accumulation trends. He noted that purchases by large holders exceeded weekly mined supply, tightening availability.
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