Peter Hughes, CEO of Apex Group, cautioned that the failure of the U.S. Senate to advance the Clarity Act could push digital asset businesses towards more agile jurisdictions in Asia and the Middle East. He noted that while Europe’s crypto regulations are restrictive, regions like Saudi Arabia are rapidly evolving, particularly in real estate tokenization. Hughes emphasized that the U.S. must establish a clear regulatory framework to avoid losing its competitive edge in the digital asset market.