Michael Saylor, CEO of MicroStrategy, has spoken out about the necessity of establishing a clear taxonomy for crypto assets in the US. He believes this will help define what constitutes a tokenized security and a digital commodity.
The Need for Crypto Asset Taxonomy
Saylor emphasized that creating a taxonomy for digital assets would be beneficial for the market. He raised questions about the circumstances under which a security can be tokenized and what qualifies as a digital security. According to him, the lack of a clear taxonomy leads to confusion regarding rights to issue tokens.
Actions from the White House and SEC
Saylor's comments coincide with the White House Working Group on Digital Asset Markets urging federal regulators to more promptly clarify the rules for crypto assets related to custody, trading, and registration. SEC Chair Paul Atkins noted that much of the tokenization innovation occurs offshore due to regulatory challenges.
Legislative Initiatives and Future of Tokenization
Congress is also preparing to review the Digital Asset Market Clarity Act of 2025. Saylor believes this bill would create a solid framework for the crypto industry and businesses looking to tokenized their assets. Ideally, he stated, 40 million businesses could issue a token in four hours for $40.
In light of Michael Saylor's perspective and regulatory actions, the establishment of a clear taxonomy for cryptocurrencies is becoming an increasingly pressing task. This could significantly impact the future of the crypto industry in the US.
