Strategy and Michael Saylor back US CLARITY Act in push for crypto rules

Strategy Inc. and executive chairman Michael Saylor have formally backed the US Digital Asset Market Clarity Act, adding the world’s largest corporate bitcoin holder to growing pressure on Senate lawmakers to advance comprehensive cryptocurrency regulation.

The endorsement was announced on 31 July, as supporters of the legislation sought to build momentum around a framework they say would encourage institutional investment, expand digital-asset markets and provide clearer protections for consumers and individual owners.

Strategy Inc. (Nasdaq: MSTR) said the bill offered a bipartisan approach to market regulation, with its proposals covering institutional participation, consumer protection, market growth and individual ownership of digital assets.

Saylor’s support gives the campaign one of the most prominent corporate figures in the cryptocurrency sector. As executive chairman of a company with the largest bitcoin holding among corporations, his backing underlines the growing interest among institutions in establishing long-term regulatory certainty before wider adoption gathers pace.

The CLARITY Act would set out responsibilities for the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). It would also create registration pathways for cryptocurrency exchanges, brokers, dealers and custodians.

The Senate Banking Committee approved the measure by 15 votes to nine on 14 May. Senator Cynthia Lummis (R-WY) published revised CLARITY Act text on 22 July as lawmakers prepared the bill for consideration by the wider Senate.

Strategy’s support came a day after the company released its second-quarter results, which highlighted the effect of bitcoin’s price volatility on its finances and funding strategy.

The company reported a net loss of $8.22bn for the quarter, including an unrealised digital-asset loss of $8.32bn. Revenue increased by 6.9% to $122.4m. By 26 July, Strategy held 843,775 bitcoin and had raised $17.06bn through at-the-market programmes.

The company has continued to expand its bitcoin treasury using common shares, preferred securities and other capital-raising arrangements. As a result, the legislation has implications not only for cryptocurrency markets but also for Strategy’s shareholders, creditors and institutions assessing the company’s exposure to bitcoin and its ability to secure further funding.

Saylor has repeatedly connected bitcoin’s long-term prospects with regulatory certainty and stable rules governing the protocol. He has forecast that bitcoin could rise 100-fold, discussed circumstances in which limited bitcoin sales could be financially justified and opposed BIP 110, arguing that a soft fork could undermine Bitcoin’s neutrality and predictability.

Those positions demonstrate that Strategy’s policy interests extend beyond the CLARITY Act itself to the financial and technical principles that influence bitcoin’s future.

Pressure on Congress has increased, with campaigners generating almost 1 million contacts urging lawmakers to progress digital-asset market-structure legislation. Supporters argue that clearer divisions between the SEC and CFTC would reduce uncertainty for developers, exchanges, custodians, investors and token issuers.

However, the bill’s passage remains uncertain. Galaxy Research cut its estimate of the probability of enactment from 50% to 30%, citing unresolved disagreements and the difficulty of securing enough votes in the Senate.

Political pressure is also rising. Nearly 70% of surveyed cryptocurrency owners said candidates’ positions on digital assets could affect how they vote in the midterm elections, adding significance as the Senate’s legislative window becomes narrower.

Treasury Secretary Scott Bessent has strongly defended the CLARITY Act, rejecting claims that the legislation would weaken consumer protections and urging the…