In a recent CNBC interview, Galaxy Digital CEO Mike Novogratz expressed optimism regarding the future of crypto legislation in the United States, regardless of whether Joe Biden or Donald Trump wins the upcoming presidential election.

Novogratz emphasized that crypto regulation should be a bipartisan issue, foreseeing positive developments in the regulatory landscape regardless of political outcomes. He asserted, "No matter who wins the next election, we’re going to get positive crypto legislation – I know that."

The billionaire investor criticized the Biden administration and some Democratic lawmakers for what he views as hostile stances toward cryptocurrencies, citing restrictive legislative proposals and enforcement actions by the SEC. Despite these challenges, Novogratz noted a shifting attitude within the Democratic Party towards embracing innovation and crypto.

Reflecting broader industry sentiment, Novogratz highlighted Donald Trump's evolving support for Bitcoin, which has gained traction among crypto proponents following the former president's recent endorsements.

Looking to legislative progress, Novogratz pointed out that the House of Representatives recently passed several pro-crypto bills, including the FIT21 ACT, aimed at providing a clear regulatory framework for crypto firms. This bill garnered substantial bipartisan support, signaling potential momentum towards favorable legislative outcomes.

Shifting gears to Bitcoin's market performance, Novogratz commented on its recent stagnancy, attributing it to the digestion phase following a significant surge earlier in the year. Despite this, he maintained a bullish outlook on Bitcoin as a hedge against inflation spurred by expansive government spending.

Galaxy Digital (GLXY) shares have responded positively to these developments, rising by 14.95% over the past five trading days, reflecting growing investor confidence in the crypto and blockchain sectors.

Novogratz concluded with optimism about the future of crypto in the U.S., stressing the importance of regulatory clarity and bipartisan cooperation in fostering innovation and growth within the industry.

As the 2024 presidential election approaches, the crypto community remains attentive to potential policy shifts that could shape the regulatory landscape for digital assets in the years to come.