U.S. Clarity Act failure gives Asia and Middle East a competitive edge, says Apex Group CEO
Apex Group CEO Peter Hughes warned that the failure of the U.S. Clarity Act will drive digital asset businesses toward faster-moving jurisdictions in Asia and the Middle East.
Make preferred on
Share this article
Summary
- The U.S. risks losing digital asset business to faster-moving jurisdictions in Asia, the Middle East and Bermuda after the Senate failed to advance the Clarity Act, Apex Group CEO Peter Hughes said.
- Hughes said Europe’s crypto rules remain restrictive, while Saudi Arabia is emerging as a tokenization hub by opening its real estate market to digital assets and greater foreign investment.
- Tokenized money market funds and regulated, yield-bearing stablecoins could accelerate institutional adoption by offering higher returns, collateral utility and broader access than traditional financial products, Hughes said.
