Mike Novogratz says US CLARITY Act could pass in May

Galaxy Digital CEO Mike Novogratz said the US CLARITY Act could move forward in May, giving the crypto industry a clear path under federal rules. 

The bill seeks to define how digital assets should operate in the United States.

Novogratz made the comments during a podcast with SkyBridge Capital founder Anthony Scaramucci. He said the bill may reach committee in early May and could reach President Donald Trump’s desk in June.

“So this is going to get done,” Novogratz said. “It probably gets done in May.”

CLARITY Act remains key for crypto rules

The US CLARITY Act aims to bring clearer rules to crypto firms, exchanges, token issuers, and investors. The bill has gained close attention because many crypto companies want one national framework instead of scattered agency actions.

Novogratz said both Republicans and Democrats have reasons to support the bill. He argued that clearer crypto regulation could help the United States keep financial innovation inside the country.

“It’s wildly important for it to get done for both Democrats and Republicans,” he said.

Novogratz also said the CLARITY Act could help more people access US financial products through crypto wallets. He said many people around the world still cannot take part in the American economy through normal financial channels.

He argued that tokenization could allow shares or assets linked to major companies to reach more global users. He named firms such as SpaceX and Google as examples of companies that could be tokenized and sold to users outside the United States.

“There are eight and a half billion people, probably five and a half billion don’t have access to our financial products,” Novogratz said.

Industry doubts remain over timeline

The bill’s progress has not matched earlier market expectations. Many crypto participants expected faster action after the CLARITY Act passed the House in July 2025 with bipartisan support.

However, disputes between banks and crypto firms have slowed the process. One area of concern is stablecoin yield, with banks warning that yield-bearing stablecoins could place pressure on deposits.

Senator Cynthia Lummis warned on April 10 that lawmakers may have limited time to pass the bill. “This is our last chance to pass the Clarity Act until at least 2030,” she said in a post on X.

Galaxy Digital’s head of firmwide research, Alex Thorn, has also shown caution. He said he gives the CLARITY Act a 50% chance of passing in 2026, adding that delays beyond mid-May could weaken the bill’s chances.