Faced with an onslaught of regulatory enforcement actions, MicroStrategy’s Michael Saylor believes the United States crypto industry is poised for a “Bitcoin-focused” future.

In an interview with Bloomberg on Tuesday, the executive chairman of the business intelligence software firm claimed that recent declarations from the U.S. Securities and Exchange Commission (SEC) are “laying the foundation” for the next Bitcoin bull run.

“Regulatory clarity is going to drive Bitcoin adoption by eliminating the confusion and anxiety that has been holding back institutional investors,” said Saylor. Much of that confusion stems from other “crypto securities” for which regulators “don’t see a legitimate path forward” in the United States. 

“They have a view of crypto exchanges which is far constrained,” he added. “Their view is crypto exchanges should trade and hold pure digital commodities like Bitcoin.”

The SEC sued Coinbase—the largest crypto exchange in the US—last week, alleging that the company had listed over a dozen securities on its platform without registering as a securities exchange. The agency had generally been hesitant to comment on whether a specific token classifies as security until filing a lawsuit, for which it’s been criticized by the industry and Congress alike. 

The SEC has Go to Source to See Full Article
Author: Andrew Throuvalas

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