TLDR:
- Galaxy Digital CEO Mike Novogratz expects the CLARITY Act to reach Trump’s desk for signing by June 2026.
- Galaxy’s Alex Thorn puts the odds of the CLARITY Act passing in 2026 at 50%, citing Senate delays as a key risk.
- Senator Cynthia Lummis warned that failing to pass the CLARITY Act now could delay reform until at least 2030.
- The CLARITY Act could unlock U.S. financial market access for an estimated 5.5 billion people across the globe.
The CLARITY Act remains one of the most closely watched pieces of legislation in the crypto space. Galaxy Digital CEO Mike Novogratz stated the bill will likely be finalized in May.
He expects President Trump to sign it into law in June. The bill aims to give the U.S. crypto industry a clearer regulatory framework.
Its passage could open American financial markets to over 5.5 billion people worldwide who currently lack access.
CLARITY Act Timeline Draws Both Confidence and Caution
Novogratz shared his outlook during a podcast with SkyBridge Capital founder Anthony Scaramucci. He said the bill would go to committee in the first week of May.
He added that it would be signed shortly after by President Trump. His comments came after a disappointing week for the industry. The Senate Banking Committee did not schedule a markup hearing as many had anticipated.
The CEO emphasized the bill’s broad political appeal. He said it is “wildly important” for both Democrats and Republicans to see it through.
This bipartisan support has been a consistent talking point among industry advocates. However, that support has not yet translated into a clear legislative path forward.
The CLARITY Act passed the House in July 2025 with backing from both parties. Yet ongoing disputes have slowed its progress through the Senate.
A major sticking point involves stablecoin yields. The banking sector has raised concerns that such yields could undermine their competitive position in the market.
U.S. Senator Cynthia Lummis issued a stark warning on April 10. She posted on X: “This is our last chance to pass the Clarity Act until at least 2030.
We can’t afford to surrender America’s financial future.” Her statement added urgency to an already pressured legislative calendar heading into May.
Industry Analysts See Mixed Odds for CLARITY Act in 2026
Galaxy Digital’s head of firmwide research, Alex Thorn, offered a more measured view. He put the current odds of the CLARITY Act passing in 2026 at 50%.
Thorn shared this estimate in an X post earlier in the week. He also released a detailed research report outlining the legislative risks involved.
Thorn had expected the Senate Banking, Housing, and Urban Affairs Committee to announce a markup hearing. That announcement was anticipated for the last week of April.
It did not happen as expected. He warned that if the markup process slips past mid-May, the odds of passage will drop sharply.
Novogratz, meanwhile, pointed to the broader economic case for the legislation. He noted that large institutions like SpaceX and Google could be tokenized and sold to global investors.
He also said a crypto wallet on a smartphone would allow people in countries like Bhutan, Botswana, Bolivia, and Paraguay to participate in the U.S. economy. That vision, he argued, is central to the bill’s purpose.
The CLARITY Act carries weight beyond the crypto market alone. A number of firms left the U.S. during the Biden administration due to regulatory uncertainty.
Clearer rules could bring those firms back and attract new ones. Whether Congress acts in time remains the central question heading into May.
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Source: https://blockonomi.com/clarity-act-will-get-done-in-may-galaxy-digital-ceo-mike-novogratz-says/
