Galaxy Digital CEO Mike Novogratz warned that the future of U.S. crypto regulation depends on the Senate vote for the Clarity Act. He stated that if the bill fails to advance, the industry could face prolonged regulatory uncertainty, potentially forcing companies to move operations offshore.
The legislative process requires 60 votes in the Senate to move the bill forward. While the Clarity Act has already passed the House, its status in the Senate remains uncertain. The outcome of this procedural vote is considered a key factor in whether the bill becomes law by the end of 2026.
Market confidence in the bill's passage has declined significantly. Prediction market data shows that the probability of the Clarity Act being signed into law by January 1, 2027, dropped from 28% to 18.5% within a 24-hour period.
Market participants are closely monitoring statements from key figures, including Senate Majority Leader Chuck Schumer and Senate Banking Committee Chairman Tim Scott. Their positions are expected to influence the prospects of the legislation and the broader regulatory landscape.
