Novogratz Warns Stalled Clarity Act Will Drive Crypto Industry Offshore

Galaxy Digital CEO Mike Novogratz has expressed concerns about the future of U.S. crypto legislation, citing the potential impact of a stalled Senate vote on the Clarity Act.

The Clarity Act has already passed the House but remains uncertain in the Senate, where it needs 60 votes to advance. If it fails to progress, Novogratz warned that there could be a prolonged absence of U.S. crypto regulations, potentially driving more of the industry offshore.

Current prediction market data suggests a significant decrease in confidence regarding the Clarity Act's passage. The probability of the Act being signed into law by January 1, 2027, has dropped from 28% to 18.5% in the past 24 hours.