Saylor: No License Required to Discuss or Promote Bitcoin in US
Michael Saylor, executive chairman of MicroStrategy and a prominent Bitcoin advocate, believes that US citizens do not need a license to discuss or promote Bitcoin. He clarified that because Bitcoin is defined as a commodity, engaging in open discussion or advocacy should remain protected, while fraudulent activities and market manipulation are still prohibited.
Saylor emphasized the distinction between speaking about Bitcoin and conducting activities that fall within the realm of regulated financial services. He maintained that freely expressing views about Bitcoin ownership should not be subject to regulatory permissions or oversight. According to Saylor, 'No license is required to discuss Bitcoin or advocate for its adoption in the United States, provided those actions do not cross into fraud or market abuse.'
This position reflects the evolving regulatory landscape in the US, which has increasingly recognized Bitcoin's status as a commodity rather than a security. In March 2026, a joint interpretation from the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) expressly listed Bitcoin among 'digital commodities.'
Regulatory approaches differ globally. While the US has taken a relatively permissive stance on public discussion and advocacy related to Bitcoin, approaches vary worldwide. In the UK, for example, Bitcoin itself is not classified as a security, but laws on financial promotions cover a wide range of cryptoassets, including Bitcoin, when promotional activities target consumers.