Key takeout
- Michael Saylor has proposed a Bitcoin reserve plan to the SEC, aiming to create wealth up to $81 trillion for the US Treasury Department.
- The SEC's Crypto Task Force is working on a regulatory framework that balances innovation and investor protection.
Please share this article
Today, Michael Saylor submitted a proposal to the SEC's Cryptographic Task Force on Friday, outlining the US Treasury's strategic Bitcoin spare plan that could generate $16 trillion to $81 trillion in wealth. It has been announced.
🚨new: @saylor I met @secgov #crypto Friday's task force. pic.twitter.com/kklfb5mf2q
– Eleanorterrett (@Eleanorterrett) February 24, 2025
The purpose of the proposal is to address national debt currently at $36.2 trillion, and as of February 5, 2025, it consists of $28.9 trillion of public debt and $7.3 trillion of intergovernmental debt. Masu.
The plan is part of Saylor's “digital asset framework” introduced in X on December 20, 2024.
Strategic digital asset policies can strengthen the US dollar, neutralize national debt, and position America as a global leader in the digital economy of the 21st century. It makes millions of businesses easier, drives growth and creates value. https://t.co/7n7jqqpkf1
– Michael Saylor (@saylor) December 20, 2024
The framework seeks to provide regulatory clarity by classifying digital assets into six classes: digital commodities, digital securities, digital currencies, digital tokens, digital NFTs and digital ABTs.
Under the framework, Bitcoin is classified as a digital commodity and represents a decentralized asset that is not tied to an issuer.
Other categories include tokenized stocks or debts (digital securities), stubcoins fixed to Fiat (digital currency), final utility tokens (digital tokens), unique digital art or intellectual property expressions (digital) NFT), and physical commodities (digital ABTS) (digital ABTS).
To streamline the issuance process, Saylor proposes capping issuance compliance costs at 10 basis points of management's assets and annual maintenance costs.
The SEC established the Cryptographic Task Force in January, acknowledging the limitations of its previous enforcement-focused approach that created uncertainty in the industry.
The Task Force aims to develop a regulatory framework that balances innovation and investor protection through stakeholder engagement.
Last Thursday, Michael Saylor proposed that the US government acquires 20% of the total distribution of Bitcoin, maintaining its dominant position in the global digital economy and ensuring economic empowerment.
Please share this article
