Michael Saylor, CEO of Strategy, recently met with the Crypto Task Force of the Securities and Exchange Commission (SEC) to discuss changes to US regulations for digital assets.
According to a memo published on Saylor’s website, he outlined ways to support industry growth while ensuring clear rules for businesses and investors.
During the meeting, he proposed updates to simplify the process of issuing and listing digital assets in the US. One key suggestion was capping the cost of launching a new asset at 1% of a company’s total managed funds.
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Additionally, He recommended limiting ongoing listing fees to 0.1% per year to make it more affordable for businesses to maintain their tokens.
Saylor also emphasized the need for clear classifications of different types of digital assets. He suggested regulators define categories for stablecoins, non-fungible tokens (NFTs), tokenized real-world assets, and meme coins.
Establishing clear definitions, he argued, would help businesses and investors understand their rights and obligations.
Beyond financial and classification concerns, Saylor urged regulators to clarify the responsibilities of crypto businesses and token holders. He argued that clearer rules would create a more stable and transparent environment for startups and established companies.
This discussion comes as the SEC, currently under acting chair Mark Uyeda, appears to be taking a more open approach to crypto regulation.
Recently, former SEC attorney John Reed Stark shared his thoughts on the SEC’s legal battles with cryptocurrency firms. What did he say? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
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