Michael Saylor Proposes Comprehensive Cryptocurrency Strategy

According to PANews, Michael Saylor, co-founder of Strategy, presented a comprehensive cryptocurrency strategy at the White House Digital Assets Summit. He suggested that by establishing a clear regulatory framework, removing barriers to innovation, and strategically acquiring Bitcoin, the United States could unlock up to $100 trillion in economic value over the next decade. Saylor categorized digital assets into four distinct groups: digital tokens for capital creation and innovation, digital securities for market efficiency, digital currencies for commerce and strengthening the global position of the U.S. dollar, and digital commodities like Bitcoin for wealth preservation. He argued that this classification would reduce regulatory uncertainty and seamlessly integrate digital assets into the traditional financial system. The proposal calls for lifting restrictions on cryptocurrencies, allowing U.S. entities to quickly access capital markets while ensuring the dollar remains essential in global trade. Additionally, Saylor's proposal emphasizes the need for fair disclosure and accountability to prevent fraud and conflicts of interest. It also advocates for ending "hostile and unfair tax policies" targeting the cryptocurrency industry. Instead, government support would enable the industry to "reach its full potential." Saylor urged the government to encourage and support major banks in the custody, trading, and financing of Bitcoin assets, stating that cryptocurrency industry participants should not be excluded from banking services.