Bitcoin evangelist Michael Saylor says clear crypto regulations would speed institutional adoption

Bitcoin evangelist Michael Saylor says clear crypto regulations would speed institutional adoption

Tighter government crypto regulations would actually be a positive catalyst for , co-founder and CEO Michael Saylor told CNBC on Wednesday. "Additional regulatory clarity from the [Biden] administration is going to benefit bitcoin and accelerate institutional adoption of that asset," Saylor said on " stressing as a major bitcoin believer and holder he's looking for "clear, bright line definitions of digital property versus a digital security versus a digital currency and the operating rules of the digital exchange." U.S. Securities and Exchange Commission Chairman said last month that the agency is on Wall Street, including by creating and enacting rules for cryptocurrency markets. , Gensler said Congress needs to grant the SEC additional powers to regulate crypto. Saylor, a prominent advocate for bitcoin whose company has invested heavily in the digital currency, attributed crypto market volatility to high speed trading, saying he believes that inevitable widespread adoption will help stabilize the market. "The most important point is that Big Tech and Big Finance and billions of people around the world need a digital property solution," Saylor said. "We have a technically sound, economically sound, morally sound, politically sound path forward, and that's bitcoin. I think people are starting to realize