Novogratz: "Crypto Market Structure Bill Likely to Be Signed by Trump in June"

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The U.S. cryptocurrency market structure bill is expected to be finalized in May, opening the door for 5.5 billion people worldwide to participate in the U.S. economy.

Cointelegraph, in a report on April 26 (local time), highlighted the possibility of the U.S. cryptocurrency market structure bill (CLARITY) passing, citing remarks from Mike Novogratz, CEO of Galaxy Digital. Novogratz appeared on a podcast hosted by Anthony Scaramucci, founder of SkyBridge Capital, and predicted that the bill would pass through committee in May. He stated a specific timeline, saying, "It will go to committee in the first week of May, and Donald Trump will sign it in June." This bill is considered a very important issue for both Democrats and Republicans.

Novogratz emphasized that the bill's passage would change the paradigm of the U.S. financial system. He explained, "If the bill passes, assets of large corporations like SpaceX and Google could be tokenized and sold to people worldwide." Currently, out of 8.5 billion people globally, approximately 5.5 billion do not have access to U.S. financial products. Novogratz added, "Smartphones equipped with crypto wallets will become a channel for young people in Bhutan, Bolivia, and Paraguay to participate in the U.S. economy."

However, skepticism surrounding the timing of the bill's passage is considerable. Uncertainty has grown as the Senate Banking Committee, contrary to expectations, did not schedule a markup hearing this week. Alex Thorn, Head of Firmwide Research at Galaxy Digital, estimated the probability of the bill passing within 2026 at 50%. Thorn warned, "If the markup schedule goes past mid-May, the chances of passage will drop sharply." Conflicts of interest between the banking sector and the cryptocurrency industry are hindering the bill's progress.

U.S. Senator Cynthia Lummis also emphasized the urgency of passing the bill. Senator Lummis stated on her X (formerly Twitter), "This is the last chance to pass the bill by 2030," and argued, "We must not give up on America's financial future." With many companies relocating their bases overseas due to a deteriorating regulatory environment in the U.S., this bill is expected to be a catalyst for innovation. The final outcome of the bill will determine whether the U.S. can regain global fintech leadership.

The U.S. cryptocurrency market structure bill is expected to become a landmark that goes beyond mere industry regulation to strengthen global economic connectivity. Novogratz maintains an optimistic outlook based on the ripple effect the bill will bring. However, the committee's delayed schedule and internal industry skepticism remain significant variables. The results of the committee discussions scheduled for early May are likely to be a decisive turning point for the future direction of the U.S. cryptocurrency market. Market participants are closely watching the political landscape, hoping for a new leap forward through regulatory clarity.

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