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Apex Group founder and CEO Peter Hughes said a delay in advancing the U.S. CLARITY Act could push digital asset companies toward Asia, the Middle East and Bermuda, according to a CoinDesk interview.
Hughes said companies would look for solutions in other regions if U.S. regulatory uncertainty persists, adding that jurisdictions moving faster to establish regulatory frameworks could benefit. He also said the European Union’s Markets in Crypto-Assets regulation, or MiCA, remains slow to evolve and overly restrictive, making Europe less likely to benefit from the U.S. legislative delay.
The U.S. Senate previously failed to pass the CLARITY Act in September after the bill did not secure the 60 votes needed for consideration. Separately, Hughes said tokenized money market funds could accelerate blockchain adoption by institutional investors. He said tokenized MMFs can offer higher yields than traditional bank deposits and can also be used to raise funds against held assets as collateral.