Michael Saylor Says Clarity Act Stalemate Means US Authorities Will Create Regulations

Michael Saylor, chairman of Stratiagy, the world's largest Bitcoin (BTC) reserve company, said it is not necessary to wait for congressional legislation regarding the stalled Clarity Act.

Saylor posted on X on Thursday that he expects the Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC), and Treasury Department to move forward with regulations based on current laws, as the Clarity Act has reached a stalemate in the U.S. Senate.

Earlier, the U.S. Senate had failed to pass a cloture vote for the Clarity Act's full committee review on Wednesday. The U.S. authorities have previously signaled they will establish cryptocurrency regulations themselves if the Clarity Act is delayed.

Saylor emphasized that the Genius Act supports the expansion of stablecoin adoption, stating banks will expand Bitcoin custody and loan services backed by collateral, attracting more capital to Bitcoin and digital assets. He added that industry progress does not necessarily require waiting for legislative action.