Saylor Seeks Banking Rules Change for Wider Bitcoin Adoption

Michael Saylor wants banks to hold Bitcoin for customers and extend credit against it. He made this case in a policy essay on September 26, arguing that banks should be able to custody Bitcoin and lend against it.

In the essay, Saylor describes Bitcoin as 'Digital Capital' and expects bank adoption to drive industry growth. He believes that more banking options would make Bitcoin useful for customers who want financial services alongside ownership.

Saylor also calls for a review of accounting, supervisory, and capital rules that he believes make Bitcoin services unnecessarily difficult. For example, the Basel framework's 1,250% risk weight for Group 2b cryptoasset exposures makes it challenging for banks to offer Bitcoin-related services.