Michael Saylor Says Crypto Should Move Beyond CLARITY: Here’s His Alternative

Crypto may be better served by spending the next few years building products and attracting millions of users rather than accepting restrictive compromises for the sake of passing CLARITY, said Saylor. The co-founder and former CEO of the world’s largest corporate holder of bitcoin is the latest to weigh in on the failed advancement vote of the CLARITY Act in the US Senate on September 15. He outlined an alternative path for the US crypto industry, arguing that widespread adoption could ultimately provide stronger protection for digital assets than a compromised piece of legislation. Don’t Wait for Congress The Strategy executive chairman said the industry should use the next couple of years to deploy compliant products with support from existing regulators, rather than just accept restrictions attached to the latest version of the bill just so that it can pass. His proposals include building products that lower costs, expand access, and give customers greater control over their money. The most ambitious part of the proposal is to attract 50 million satisfied US users benefiting from various crypto financial products. Such a user base would make future policy reversals considerably...