The long-awaited US CLARITY Act is back in the spotlight, with Galaxy Digital CEO Mike Novogratz leading the charge of optimism. After months of regulatory gridlock and political maneuvering, Novogratz suggests that the bill, which aims to provide a definitive framework for the American crypto industry, is on the verge of a historic finish.
Speaking on a recent podcast with SkyBridge Capital founder Anthony Scaramucci, Novogratz predicted that the legislation will move to the committee stage by the first week of May 2026. If the timeline holds, he anticipates a formal signing by the President as early as June. For an industry that has felt “homeless” under previous administrative pressures, this move represents more than just legal paperwork—it’s a survival signal.
Why the CLARITY Act is a Game-Changer for Global Finance
Novogratz isn’t just looking at domestic charts; he’s looking at the 5.5 billion people worldwide who are currently locked out of the US economy. The core promise of the CLARITY Act lies in its ability to facilitate tokenization. By providing a clear legal path for digital assets, massive entities like SpaceX or Google could eventually see portions of their value tokenized and sold globally.
According to Novogratz, a simple smartphone equipped with a crypto wallet could become a gateway for a teenager in Bhutan or Bolivia to invest in American markets. This democratization of finance is a major selling point for proponents who argue that the US must lead the digital frontier or risk losing its financial hegemony to more crypto-friendly jurisdictions.
Political Hurdles and the Race Against the 2030 Deadline
Despite the optimism from the top, the road to “May clarity” is paved with significant obstacles. The bill already cleared the House in July 2025 with bipartisan support, but it has since stalled in the Senate. A primary point of contention remains a heated “turf war” between traditional banks and crypto firms. Specifically, banks are concerned that stablecoin yields could offer better returns than traditional savings accounts, potentially draining liquidity from the legacy banking system.
The stakes are incredibly high. US Senator Cynthia Lummis recently issued a stark warning, suggesting that if the act doesn’t pass now, the window might not open again until 2030. This “now or never” sentiment is echoed by many who watched crypto firms flee the US during the previous Biden administration due to what they described as “regulation by enforcement.”
However, not everyone at Galaxy Digital shares their CEO’s confidence. Alex Thorn, the firm’s head of research, recently tempered expectations by placing the odds of the bill passing in 2026 at a coin-flip 50%. While the industry waits for the Senate Banking Committee to schedule a formal markup hearing, the next few weeks in May will determine whether the US reclaims its spot as a tech innovator or continues to let digital finance drift overseas.
