Saylor: Crypto Should Focus on Adoption, Not Compromised Legislation

Michael Saylor, co-founder and former CEO of Strategy, has weighed in on the failed CLARITY Act vote in the US Senate. The bill aimed to provide lasting certainty over how crypto assets are classified and which agencies oversee them.

Saylor believes that instead of accepting restrictive compromises for the sake of passing the bill, the industry should focus on building compliant products with support from existing regulators. He argues that widespread adoption could ultimately provide stronger protection for digital assets than a compromised piece of legislation.

The Strategy executive chairman proposes to attract 50 million satisfied US users benefiting from various crypto financial products by building products that lower costs, expand access, and give customers greater control over their money.

This user base would make future policy reversals considerably more difficult because millions of Americans would have a direct interest in preserving those services. Saylor added, 'Adoption raises the political cost of reversal.'