Galaxy Digital CEO Warns Clarity Act Failure Could Harm U.S. Crypto Industry

Galaxy Digital CEO Michael Novogratz emphasized that if the U.S. Clarity Act fails to make progress, cryptocurrency regulation could face prolonged delays and potentially be effectively stalled. Speaking on X, he stated, "This situation would not only be a major setback for the U.S., but could accelerate the flow of crypto companies and industry moving overseas. The digital and blockchain revolution will continue regardless. Over the next two years, the SEC and CFTC may establish regulations allowing businesses to operate, but long-term regulatory uncertainty would remain. Both parties' senators must look beyond immediate interests and consider the broader trajectory of the cryptocurrency industry," he explained.