Novogratz Warns US May Go Long Without Crypto Law if CLARITY Act Fails

Galaxy Digital founder and CEO Mike Novogratz warned that if the CLARITY Act does not advance, the United States may go without durable crypto market-structure law for a long time.

The Senate cloture vote on September 15, 2026, is more than a routine procedural test, according to Novogratz. He stated that agency rulemaking is not the same as long-term statutory certainty, and a statute removes the political-reversal and offshore-relocation risk that agency rules cannot.

The CLARITY Act cloture motion needs 60 votes, but Republicans hold only 53 Senate seats, meaning at least seven Democrats or independents must cross the aisle. Novogratz pointed out that even if the SEC and CFTC can write rules and let firms operate under agency guidance over the next two years, a statute provides long-term certainty.

Treasury Secretary Scott Bessent reinforced the urgency from a national-security angle, urging the Senate to pass CLARITY or forfeit crypto security tools. He promised new Treasury authority if stablecoin adoption triggered deposit-flight pressure on community banks.