TLDR
- Novogratz said the Clarity Act may move to committee in early May with June signing plan.
- Senate Banking delay in markup hearing has slowed Clarity Act progress this year.
- Galaxy research gives 50% chance of passage in 2026, depending on May progress.
- Proposal includes tokenization of US assets for global investors using crypto wallets.
- Stablecoin yield debate between banks and crypto firms remains a key sticking point.
Galaxy Digital CEO Mike Novogratz said the US Clarity Act may move forward in May. He also said a June signing is possible if progress continues. The statement was made during a podcast interview with Anthony Scaramucci.
The discussion focused on regulatory clarity for crypto markets in the United States. Novogratz linked the bill to wider access to financial products and tokenization efforts.
Novogratz timeline for Clarity Act progress
Galaxy Digital CEO Mike Novogratz said the Clarity Act could reach committee review in early May. He added that a vote may follow soon after committee discussions. He also said the bill may be signed in June.
Novogratz made these comments during a podcast with Anthony Scaramucci. He said both major political parties see value in the legislation. He also noted recent delays in Senate scheduling.
He said, “So this is going to get done. It probably gets done in May.” He added that June could be the signing period if steps move forward.
The Senate Banking Committee did not hold a markup hearing by the expected deadline. This delay shifted expectations within the crypto industry. Many participants had expected faster movement earlier this year.
Market access and tokenization plans
Novogratz said the Clarity Act could expand access to US financial markets. He said digital wallets could allow global participation. He estimated billions of people could gain access.
He said, “This phone with a crypto wallet is going to be the way” users join markets. He referred to users in developing regions including Bhutan and Bolivia. He said participation would come through mobile-based systems.
He also said large companies could be tokenized under the framework. Firms like SpaceX and Google were mentioned in his remarks. He said these assets could be sold to global investors.
He linked this idea to broader financial inclusion goals. He said around 5.5 billion people lack access to US financial products. He said the bill could change how they interact with markets.
Senate process and industry outlook
Progress in the Senate remains uncertain due to scheduling delays. The Banking Committee has not confirmed a new markup date. This has created uncertainty in market expectations.
Senator Cynthia Lummis said the timeline is narrowing. She posted that, “This is our last chance to pass the Clarity Act until at least 2030.” She added urgency around moving the bill forward.
Galaxy research head Alex Thorn gave a 50% chance for passage in 2026. He said timing depends on whether progress happens by mid-May. He warned odds could drop if delays continue.
Thorn also said a markup hearing was expected in late April. However, no hearing was announced during that period. He said missed timing could weaken momentum for the bill.
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