Crypto giant DCG warned the US is "ceding ground at an alarming pace" to Singapore and the UAE, urging the Senate to pass the Clarity Act before the August recess.
Alpha Score of 64 reflects moderate overall profile with strong momentum, moderate value, moderate quality, moderate sentiment.
Digital Currency Group told the Senate on Wednesday that the Clarity Act is needed to stop the US from losing the crypto race to Singapore and the UAE.
The current draft of the bill offers "exactly the kind of certainty our industry needs to grow and thrive responsibly," the crypto conglomerate said in a statement.
"The competitive stakes could not be higher. The United States has long been the global center of technological innovation, but we are ceding ground at an alarming pace," the statement read. "Talent, capital, and innovative companies" are looking at Singapore and the UAE instead, DCG said.
The warning reflects a broader anxiety in the US crypto industry. Jurisdictions like Singapore and Abu Dhabi have moved faster on regulation. The UAE, for example, set up a dedicated virtual assets regulator and a framework covering licensing, custody, and trading. Companies are setting up shop there instead. DCG said the US is ceding ground at an alarming pace.
Lawmakers want the bill passed before the August recess. Bipartisan support exists across the aisle. Some Democrats, including Senator Elizabeth Warren, have criticized the draft. Warren said it would let President Donald Trump profit from crypto and benefit criminals. A group of Democrats last week said the bill in its current form falls short. The new draft bans officials and their families from issuing or promoting crypto. That was a direct response to the criticism.
The warning follows a similar push from Florida Senate President Mike Haridopolos, who recently warned that delays risked the US crypto lead.
Fidelity and Goldman Sachs have backed the revised draft. Goldman Sachs, rated Moderate by the AlphaScala Alpha Score at 59, is among the major institutions that said the bill works in its current format. Goldman's CEO recently backed the CLARITY Act as banks fight stablecoin rewards.
DCG is one of the largest crypto investment firms. It oversees a portfolio of over 200 companies across trading, asset management, and media. Its best-known asset is Grayscale, the firm behind the Grayscale Bitcoin Trust (GBTC), the world's largest publicly traded crypto fund.
Lawmakers have worked on the Clarity Act since last year. Republicans passed it in 2025. The bill stalled this year after banking chiefs raised concerns over stablecoin yield. The current version is the product of what DCG called "serious negotiation" and "genuine compromise."
The Senate has not set a date for a floor vote. The August recess deadline is fast approaching.
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