Michael Saylor Says Digital Asset Industry Should Favor Supportive Rules Over CLARITY Limits

Strategy founder Michael Saylor said the digital asset industry would be better served by supportive rules from the SEC, CFTC, Treasury, and banking regulators than by the restrictions in the final CLARITY compromise. According to ChainCatcher, he said the safest path is to build products that satisfy customers, deploy them broadly, and protect ownership, require honest disclosure, punish fraud, and let entrepreneurs compete and grow. Saylor said the September CLARITY compromise would have limited covered providers to paying customers only for holding payment stablecoins, while allowing qualified activity rewards and directing the Treasury to restrict certain rewards if it determined community banks were experiencing significant harmful deposit outflows. He added that the GENIUS Act already includes limits on issuers paying interest and yield on stablecoins. He also said the CLARITY innovation sandbox would have capped participating firms at 25 employees and limited each committee to approving 20 projects per year. Saylor noted that the SEC provided conditional relief on September 17 for certain on-chain trading of tokenized stocks, while the CFTC chair has pledged to use existing authority if the bill remains stalled. Saylor said useful products should be scaled in 2027 and 2028, turning temporary relief into lasting rules. He said the goal is for 50 million U.S. voters to use digital financial products that improve their lives.