Saylor Sees Silver Lining in Stalled Clarity Act for Bitcoin

Michael Saylor, executive chairman of Strategy Inc., thinks the stalled CLARITY Act might actually be good news for Bitcoin. The US Senate failed to pass the bill on September 15, which was designed to draw clear jurisdictional lines between the SEC and CFTC over digital assets.

The bill's failure has led Saylor to argue that existing regulators already have the tools they need to establish rules governing digital assets without Congressional intervention. He believes this removes the risk of Congress writing bad regulations.

Saylor points out that banks are likely to expand their Bitcoin custody services and offer Bitcoin-collateralized lending in the current environment, which he sees as a positive development for the cryptocurrency.