Apex CEO Says U.S. Crypto Bill Delay Could Push Firms Abroad

In an interview published Saturday, Oct. 24, Apex Group founder and CEO Peter Hughes said stalled U.S. crypto legislation may push firms toward faster-moving rules in Asia, the Middle East and Bermuda. Hughes said businesses could be left “finding other solutions elsewhere.” He predicted that “they’ll step into this gap,” referring to the three regions, and described the European Union’s Markets in Crypto-Assets Regulation as restrictive and slow to evolve. The Senate’s Sept. 15 procedural vote was not a vote on final passage of the Digital Asset Market Clarity Act. The cloture motion drew 49 yes votes and 50 no votes, with one senator not voting; the Senate recorded the vote at 2:19 p.m. ET (18:19 UTC). The motion needed three-fifths support to advance.

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