Strategy's Michael Saylor expects regulatory progress for Bitcoin custody without new legislation

Michael Saylor isn't waiting for Congress to get its act together. The executive chairman of Strategy, the company formerly known as MicroStrategy, said on September 16 that US regulators are prepared to advance digital asset rules under existing statutes, bypassing the stalled CLARITY Act entirely.

His thesis: the SEC, CFTC, and Treasury Department will create workable frameworks using the legal tools they already have. The result, Saylor argues, will be traditional banks expanding into Bitcoin custody and collateralized lending in a meaningful way.

The CLARITY Act, which was supposed to provide comprehensive digital asset legislation, has been stuck in congressional limbo. Federal agencies, he contends, have sufficient authority under current law to establish the guardrails the industry needs.

The SEC issued guidance on December 17, 2025, clarifying how broker-dealers should handle custody obligations for crypto asset securities. The Office of the Comptroller of the Currency has also endorsed the ability of nationally chartered banks to custody digital assets.

Saylor also pointed to the GENIUS Act as a potential catalyst, specifically for stablecoin adoption. A clearer stablecoin framework would expand the on-ramps between traditional finance and digital assets, creating more reasons for banks to build out their crypto infrastructure.