Saylor Defends Right to Promote Bitcoin Without License
Michael Saylor, Chairman of Strategy and Executive Chairman, has defended Americans' right to promote Bitcoin without a license. In a recent post on X, Saylor stated that discussing Bitcoin, advocating for its adoption, and recommending ownership are permitted activities in the United States.
Saylor drew a clear distinction between promoting Bitcoin and engaging in illegal trading practices, saying 'Bitcoin is a commodity, not a security. Fraud and manipulation are illegal.'
The classification of Bitcoin as a commodity aligns with the position taken by the Commodity Futures Trading Commission, which has asserted authority over fraud and manipulation involving Bitcoin in interstate commerce.
However, lawmakers continue to debate the CLARITY Act, which aims to clarify how the SEC and CFTC divide responsibility for digital assets. The bill would define digital commodities as falling under the CFTC's spot-market authority, while assets offered as investment contracts would remain within the SEC's securities jurisdiction.
Strategy, the company led by Saylor, has also returned to the Bitcoin market after a 10-week period without net purchases. Between August 24 and 30, Strategy bought 4,603 BTC at an average price of $80,318 per coin, raising its holdings from 840,447 BTC to 845,050 BTC.