US CLARITY Act Seeks May Finalization, Eyes June Passage

The US CLARITY Act, a landmark piece of legislation aimed at providing regulatory clarity to the cryptocurrency market, is expected to be finalized in May, according to Galaxy Digital CEO Mike Novogratz.

Speaking on a recent podcast, Novogratz predicted that the bill will pass by June, paving the way for large institutions such as SpaceX and Google to issue tokenized securities. This would enable them to be 'tokenized and sold to people around the world', according to Novogratz.

The CLARITY Act has been stalled in Congress due to ongoing disputes between the banking sector and the crypto industry over stablecoin yields. However, Novogratz remains optimistic about its prospects, citing the bill's bipartisan support in the House and its potential to open up the US economy to billions of people around the world.