Mike Novogratz Says US CLARITY Act May Pass Soon

Galaxy Digital CEO Mike Novogratz said the US CLARITY Act could “get done” in May, according to Cointelegraph’s report published on April 26, 2026, adding fresh urgency to a crypto market structure debate that has already slipped past one expected Senate Banking Committee window. The comment matters because the bill is no longer a theory on Capitol Hill. It already cleared the House in 2025, and the next procedural steps now hinge on Senate timing, committee action, and whether lawmakers move before the 2026 midterm calendar tightens.

Senate Timing Pressure Builds After a Missed April Window

The clock is obvious now. Cointelegraph reported on April 26, 2026 that Novogratz expects the CLARITY Act to be finalized in May, while also noting that Galaxy Digital head of research Alex Thorn put the odds of passage in 2026 at 50%. That is not a victory lap. It is a probability call, and a cautious one. The same report said the Senate Banking, Housing, and Urban Affairs Committee was expected to announce a markup hearing in the last week of April 2026, but that did not happen. For anyone who has tracked crypto bills through multiple Congresses, that missed scheduling marker is the real story, not the headline optimism.

The legislative record shows why this matters. The House Financial Services Committee examined H.R. 3633, the CLARITY Act of 2025, on June 5, 2025, after a joint public roundtable on May 6, 2025, according to the committee’s official releases. The House Financial Services Committee then passed the bill by a 32-19 vote, while the House Agriculture Committee passed it by a 47-6 vote in June 2025, according to House committee statements and Cointelegraph’s committee coverage. The full House passed the CLARITY Act on July 17, 2025, according to the House Agriculture Committee. So yes, the bill has momentum. But Senate momentum is a different animal.

That gap between rhetoric and procedure is the angle many quick reports miss. Novogratz’s comment is market-relevant because he runs one of crypto’s most politically engaged firms. Still, the harder data point is not his confidence. It is the absence of a confirmed Senate markup date as of April 26, 2026. In Washington, that distinction changes everything.

Why House Progress Has Not Yet Produced a Senate Breakthrough

Here is the mechanism. The House did its job in 2025. The Senate still has to move a market structure package through committee, secure floor support, reconcile differences with other Senate workstreams, and then align any final text with the House-passed version. Galaxy’s own research note, published about four days before April 26, 2026, laid out five sequential steps from here to the president’s desk: Senate Banking Committee markup, full Senate passage with 60 votes, reconciliation with the Senate Agriculture Committee’s Digital Commodity Intermediaries Act, reconciliation with the House-passed CLARITY Act, and presidential signature.

That sequence shows the bottleneck. It is not whether Congress understands the issue. It is whether Senate committees can align in time. Yahoo Finance reported last week that White House crypto adviser Patrick Witt said negotiations had advanced beyond the stablecoin yield impasse, while also warning that missing a May 2026 advancement deadline could push the effort beyond the November midterms. That is a concrete political constraint, not just pundit chatter.

House Support Was Strong While Senate Procedure Still Looks Uneven

The vote math in the House was solid. The House Agriculture Committee’s 47-6 vote gave the bill an 88.7% yes share, while the House Financial Services Committee’s 32-19 vote translated to 62.7% support. That divergence matters. It suggests the commodity-market framing of crypto regulation has been easier to sell than the broader financial-services framing. I have watched this split shape crypto policy debates for years: when a bill leans into market structure and jurisdictional clarity, support broadens; when it brushes against banking, securities, or consumer-finance turf, resistance hardens.

Analysis of the procedural pattern reveals another useful signal. The Senate Agriculture Committee already advanced a related draft on January 29, 2026, according to Latham & Watkins. The Senate Banking Committee, by contrast, remains the critical gatekeeper for the CLARITY path highlighted by Galaxy. That means one chamber is not the issue. One committee is.

Data Verification: The House-passage date of July 17, 2025 appears in the House Agriculture Committee release and is also reflected in secondary coverage. Committee vote counts of 32-19 and 47-6 appear in official House materials and Cointelegraph’s committee report. The January 29, 2026 Senate Agriculture milestone appears in both Galaxy research and Latham & Watkins’ legislative tracker. That cross-check matters because crypto policy reporting often compresses separate bills into one narrative.

Can the CLARITY Act Reach the Finish Line in May?

It can, but the path is narrower than the headline suggests. Novogratz’s statement gives the market a bullish political signal. Thorn’s 50% probability estimate gives it a reality check. Those two data points belong together. If Senate Banking schedules markup in the final days of April 2026 or the opening stretch of May 2026, the odds improve fast. If not, the bill risks running into election-year bandwidth, competing priorities, and the usual congressional drag.

The bigger significance is structural. The CLARITY Act is not just another crypto headline. It is part of a broader attempt to define who regulates what in US digital asset markets, after years of overlap between securities and commodities oversight. That is why Novogratz keeps talking about it, and why the market keeps listening. The bill’s fate could shape exchange registration, broker-dealer obligations, token classification, and the operating environment for US crypto firms well beyond 2026.