Clarity Act Still Has Path Forward Despite Setbacks

Galaxy Digital CEO Mike Novogratz is optimistic about the Clarity Act's chances of passing, despite months of setbacks. He claims that 'clarity isn't dead' and notes that there was a lot of negotiating over the weekend.

The legislation, which aims to provide comprehensive federal protections for cryptocurrency users, has been advanced by the Senate Banking Committee with a bipartisan 15-9 vote in May. However, several major disputes remain unresolved, including government ethics rules.

Novogratz believes that one of the biggest obstacles is the legislation's government ethics language and notes that it all depends on if they can get the White House to move on ethics to see if they get a law.