Galaxy Digital CEO Mike Novogratz estimates the crypto regulation bill could be finalized in May and signed by June.
Galaxy Digital CEO Mike Novogratz has stated that the CLARITY Act could become law by June 2025. Speaking during a podcast with Anthony Scaramucci, Novogratz outlined a precise timeline: the bill could reach the committee stage in early May, before advancing toward a presidential signature within the following month. The statement comes as the U.S. Congress continues to debate the fundamental provisions tied to digital asset regulation.
The CLARITY Act aims to define a regulatory framework for digital assets in the United States, establishing national rules involving exchanges, token issuers, and investors. The bill also calls for a division of oversight responsibilities between regulatory authorities, classifying some assets under securities rules and others as commodities. Novogratz emphasized that bipartisan incentives could help drive passage, noting that both Republicans and Democrats have reasons to support clearer rules for the crypto sector, as regulatory clarity is seen as a tool to keep financial innovation within American markets.
Despite initial expectations, the legislative path has faced significant delays. The bill had already passed the House with a bipartisan vote in July 2025, but the process stalled in the Senate. The disputes center in particular on stablecoin regulation, with banks raising concerns over yield-bearing stablecoins, arguing that these assets could draw deposits away from the traditional banking system. Such pressures have led to further negotiations, delaying an agreement.
Senator Cynthia Lummis warned, in a statement on April 10, that if the measure does not advance soon, the next viable window to bring it to the floor could be 2030. As previously reported by Atlas21, Alex Thorn, head of research at Galaxy Digital, estimated a 50% probability of passage in 2026, noting that further delays beyond mid-May could reduce those odds even further. At the same time, sources close to the legislative process indicate that the CLARITY Act still retains a viable path to passage over the course of the year.
