Galaxy Chief Executive Officer Mike Novogratz said the U.S. crypto industry could face a much longer wait for regulatory clarity if the Clarity bill fails to make progress. In a post cited by BlockBeats on Sept. 15, Novogratz said that if the bill does not advance "tomorrow," the market may not get crypto regulation for a long time, "if at all." He said that outcome would be "terrible" for the United States and would force more of the industry to move offshore. Novogratz added that the digital and blockchain revolution will continue regardless. He also raised the question of whether regulators such as the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission should be given another two years to write rules and let companies get started, while warning that prolonged uncertainty is harmful. He called on senators from both parties to look at the bigger picture.
Galaxy CEO Mike Novogratz said a failure by the Clarity bill to make progress could leave the U.S. waiting a long time for crypto regulation, and possibly without it altogether.
According to BlockBeats on Sept. 15, Novogratz wrote that if the Clarity bill does not move forward tomorrow, "we may be a long, long time away from getting crypto regulation — if ever." He said that would be terrible for the United States and would force more of the industry to move overseas.
Novogratz said the digital and blockchain revolution will continue. He also questioned whether the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission should be given another two years to write rules and allow companies to get off the ground, adding that long-term uncertainty is not good. He urged senators from both parties to see the bigger picture.
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