Regulators Poised to Advance Digital Asset Rules Without New Legislation
US regulators may be poised to advance digital asset rules without new legislation, according to Strategy's executive chairman Michael Saylor. He believes that existing statutes will allow the SEC, CFTC, and Treasury Department to create workable frameworks for Bitcoin custody and collateralized lending.
Saylor pointed out that the CLARITY Act has been stuck in congressional limbo, but he thinks regulators have sufficient authority under current law to establish necessary guardrails. The SEC issued guidance on December 17, 2025, clarifying how broker-dealers should handle crypto asset securities custody obligations.
Additionally, Saylor mentioned the GENIUS Act as a potential catalyst for stablecoin adoption and expansion of traditional finance on-ramps with digital assets. Strategy holds hundreds of thousands of BTC, with around 40% custodied through Coinbase Custody and additional holdings managed by Anchorage Digital Bank, both US-regulated entities.
The executive chairman predicts that major banks offering Bitcoin custody at scale will create a significant market shift. This would allow companies like Strategy to access liquidity without selling their positions, a tax-efficient strategy for accumulating Bitcoin.