The CLARITY Act is expected to reach an agreement in May and be signed in June... Facing a "turning point" due to Senate delays

Intended to establish the U.S. cryptocurrency regulatory “compass,” the CLARITY Act(CLARITY Act) is expected to reach the final agreement stage in May. Galaxy Digital CEO Mike Novogratz(Mike Novogratz) predicts, “This is a matter that will ultimately be addressed,” and believes the timeline may be earlier than expected.

Novogratz stated during a podcast with SkyBridge Capital founder Anthony Scaramucci(Anthony Scaramucci) released on Friday local time(indicating: “It will be submitted to the committee in the first week of May, then progress quickly, and President Trump will sign in June.” He added that the CLARITY Act is a “very important” issue for both Democrats and Republicans.

A week of market disappointment… Senate schedule delays become a variable

This statement was made after the Senate Banking Committee)SBC( failed to confirm the review)markup( schedule by Friday as industry expected, which disappointed the crypto sector. Due to key steps in the bill’s processing being delayed, the market is weighing the possibility of “schedule adjustments.”

Given that the CLARITY Act had bipartisan support in the House of Representatives last July and passed smoothly, the expectation of crossing the congressional threshold early this year dominated. However, disagreements between the financial industry and the crypto sector over issues such as stablecoin yield)stablecoin yield( and whether it might weaken banking competition continue, leading to longer-than-expected discussion periods.

Promoting U.S. assets through ‘tokenization’ to the global market… The core is not 500 million but ‘5 billion’

Novogratz emphasized that if the CLARITY Act passes, the door to ‘tokenizing’ assets and selling them to global investors will open. He implied that giants like SpaceX and Google could have their value divided into blockchain-based tokens for trading, believing that regulatory clarity could greatly expand access to capital markets.

He stated: “Among the 8.5 billion people, about 5.5 billion cannot access U.S. financial products,” and “Phones with crypto wallets will become channels for participation in the U.S. economy from anywhere in the world, including Bhutan, Botswana, Bolivia, Paraguay.” Industry analysts believe that the CLARITY Act could serve as a catalyst not only for the crypto market but also for the entire U.S. innovation ecosystem.

Probability estimate of ‘50%’… If beyond mid-May, it could sharply shake the market

However, opinions on the timeline vary. Galaxy Digital research head Alex Thorn)Alex Thorn( rated the likelihood of the CLARITY Act passing in 2026 as ‘50%’, noting that whether the Senate Banking, Housing, and Urban Affairs Committee)SBC( will hold hearings)is a watershed.

Thorn pointed out that he initially expected the review schedule to be announced this week or at the latest in late April, but it was not released. He said, “If the review extends beyond mid-May, the probability of passage will sharply decline.” Meanwhile, Senator Cynthia Lummis(Cynthia Lummis) also pressured on April 10 via X platform(original Twitter), stating, “It may be very difficult to push the CLARITY Act again by 2030,” emphasizing “this is the last chance.”

Article summary by TokenPost.ai

🔎 Market interpretation - The CLARITY Act is a core bill aimed at establishing the “big framework” for U.S. cryptocurrency regulation, mentioning possible committee stage in May → signed by Trump in June, reigniting regulatory expectations - but due to delays in confirming the Senate Banking Committee’s review schedule, short-term expectations are frustrated; if beyond mid-May, the probability of passage may sharply drop, increasing vigilance - the controversy centers on issues like stablecoin yield’s impact on banking competitiveness and other “traditional finance vs crypto” conflicts, with bill progress influencing market volatility 💡 Strategic points - Schedule checkpoint: whether the Senate Banking and Housing and Urban Affairs Committee(SBC) will “announce/hold hearings” is the primary indicator (delays in announcement may lead to lowered expectations) - Beneficial themes: if regulation becomes clearer, exchanges, custodians, brokers, and related projects within the U.S. could gain policy premiums - Risk management: coexistence of optimistic outlook (signed in June) and conservative expectation (50% chance of passage), requiring responses to short-term news-driven volatility 📘 Terminology explanations - CLARITY Act: a bill aimed at clarifying U.S. virtual asset regulatory jurisdiction and classification standards to reduce industry uncertainty - Review(markup): the core review process where committees discuss, amend the bill text, and vote on whether to submit it to the full chamber - Tokenization(Tokenization): creating rights to stocks, bonds, equity, physical assets as blockchain-based tokens for fractional trading and circulation - Stablecoin yield(stablecoin yield): interest or rewards earned by depositing or operating stablecoins, potentially competing with bank deposits and short-term financial products

💡 FAQ FAQs

Q. What is the CLARITY Act? What changes will occur if it passes? The CLARITY Act aims to establish a “benchmark” for U.S. virtual asset regulation, clarifying whether virtual assets are securities or commodities and determining jurisdiction. Once passed, regulatory uncertainty faced by companies and investors will decrease, making it more predictable for them to launch services, go public, or make investment decisions. Q. Why is the schedule delay (uncertain review) important to the market? The review is the threshold for truly advancing the bill, so whether the schedule is confirmed is seen as a barometer of passage likelihood. As mentioned, delays in review announcements cool market expectations; if postponed beyond mid-May, the probability of passage may sharply decline, increasing short-term volatility. Q. Why is ‘tokenization’ mentioned alongside the CLARITY Act? After regulation becomes clearer, institutions (large financial firms, corporations) can more easily split, issue, and circulate their assets as tokens. This allows overseas investors, who find it difficult to access U.S. financial products, to participate in investments simply via smartphones and wallets. Therefore, the bill is seen as a catalyst for “expanding access to capital markets.”

TP AI notes: The article has been summarized using a language model based on TokenPost.ai. Main content may be incomplete or inconsistent with facts.