Strategy founder Michael Saylor proposed a comprehensive policy framework for the digital economy, arguing that Bitcoin should be more broadly integrated into the banking and insurance systems.
In his published article, Saylor stated that artificial intelligence will significantly increase the productivity of individuals and businesses, and that the digital asset era needs a “digital rights declaration.” According to Saylor, individuals and companies should have five fundamental rights regarding the creation, issuance, holding, transfer, and use of digital assets.
Saylor, who advocates for simplifying the rules regarding digital asset issuance, said that applying different disclosure obligations based on project size could lower the cost of accessing finance for companies. Saylor suggested that this approach could help approximately 10 million new companies access capital.
Saylor also stated that a clear regulatory path should be created to allow banks, fintech companies, and technology platforms to issue digital dollar products. He argued that organizations issuing digital dollars should also be able to compete on terms of yield.
Saylor, who described Bitcoin as “digital capital,” called for banks to be allowed to offer Bitcoin custody services and provide Bitcoin-backed loans. He also said that a viable regulatory framework should be created so that insurance companies can incorporate Bitcoin into their balance sheets and product designs.
Saylor argued that the 1,250% risk weighting applied to some crypto asset risks under Basel regulations is too strict. He stated that regulations should differentiate between client-based custody services, Bitcoin-backed loans, and banks’ own Bitcoin positions, adding that bank adoption of Bitcoin could be a significant catalyst for the sector’s growth.
Saylor, also touching upon tokenized securities, said that simply moving existing securities onto the blockchain is not enough. He argued that investors should be able to store their assets directly, transfer them freely, and choose different custody or lending service providers.
Regarding privacy, Saylor stated that ordinary and legitimate transactions under $10,000 should not be automatically reported to government agencies simply because they involve the transfer of money or digital assets.
According to Saylor, the U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), the U.S. Treasury Department, banking regulators, and the White House will play a key role in advancing reforms over the next two years.
Saylor, who also criticized the Clarity Act, argued that the regulation placed too much emphasis on restrictions.
*This is not investment advice.
