.Michael Saylor, co-founder and executive chairman of Microstrategy, has presented a framework that aims to position the U.S. and the dollar as leaders of the global digital economy. Defining what digital assets are, establishing a simplified responsibility model, and specifying standards for their issuance, are Saylor’s ideas to achieve this goal.
Michael Saylor Presents Framework for Digital Assets to Strengthen U.S. Leadership
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Michael Saylor Introduces Guidelines for U.S. to Lead Digital Assets’ Markets
Michael Saylor, co-founder and executive chairman of Microstrategy, the first company to adopt the Bitcoin standard, presented his ideas for making the U.S. the leader in the digital assets field. On social media, Saylor posted a document titled “Digital Assets Framework, Principles, and Opportunity for the United States,” which defines the guidelines that the country’s institutions must follow to turn the US into a digital assets haven.
Saylor specifies different key aspects as part of this proposal. The first is establishing a clear taxonomy for these assets and defining what constitutes a security, a commodity, a currency, a token, a non-fungible token ( NFT), and an asset-backed token (ABT). He believes this is “critical to advancing policy and fostering innovation.”
Also, determining the responsibilities and rights of each of the actors in the crypto environment, including exchanges, issuers, and owners, would push each one of the parts to “engage in digital asset markets with confidence.”
A third issue deals with a simplified compliance regime for industry actors, that would be pushed by the same industry, proposing standards for issuing and maintaining digital assets, and removing roadblocks for managing these.
Perhaps the most relevant point of the document touches on the involvement of digital assets in capital markets. Saylor proposes combining the current limited capital markets with the empowering capabilities of digital assets, thereby opening access for excluded parties to these previously siloed opportunities. This fusion would lead to rapid issuance, cost reduction, asset expansion, and broader participation of the masses in the capital market, resulting in trillions in growth.
Finally, Saylor reinforced the relevance of a strategic bitcoin reserve to assert U.S. leadership in the industry. For him, this action would allow the U.S. to incubate up to $81 trillion in revenue, helping the nation offset its $36 billion public debt.
Saylor concluded:
A capital markets renaissance fueled by digital assets will unlock trillions in wealth, empower millions of businesses, and solidify the U.S. dollar as the foundation of the 21st-century digital financial system.
Read more: Michael Saylor Raves About the U.S.’s $10 Trillion World Reserve Digital Dollar Opportunity
