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The CLARITY Act's stalled progress in Washington is giving Asian financial centers room to compete for crypto capital and developers, according to First Digital's chief executive.
Industry figures warned the legislative limbo carries three concrete risks: slower institutional adoption, a return to enforcement-driven regulation, and innovation moving offshore.
Washington's pause, Asia's opening No timeline for the CLARITY Act's passage has emerged. First Digital's CEO said Asian financial hubs are positioned to absorb activity that would otherwise stay in the United States.
The mechanism is the regulatory vacuum. When enforcement, not statute, defines the boundary, institutional participants tend to wait rather than commit capital.
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