Digital Currency Group (DCG), one of the cryptocurrency industry's largest investment firms, has urged the U.S. Senate to pass the Clarity Act, arguing that continued delays in establishing clear digital asset regulations are allowing competing financial hubs such as Singapore and the United Arab Emirates to attract crypto businesses and investment.
In a statement released Wednesday, Digital Currency Group said the current version of the legislation provides the legal certainty needed for the digital asset industry to expand responsibly while maintaining appropriate consumer protections. The company described the bill as the result of extensive negotiations involving lawmakers, industry representatives and policy advocates from both political parties.
