Michael Saylor Calls on US Government to Create Formal Crypto Taxonomy

• Saylor emphasized the need for clear legal distinctions between digital securities, commodities, and tokens, particularly when securities can be tokenized
• Currently, many tokens remain in legal gray areas, especially around classification under securities laws
• SEC Chair Gary Gensler recently acknowledged that much tokenization innovation is happening overseas because of US uncertainty, but stated that companies are lining up to request tokenization permission

During MicroStrategy’s Q2 2025 earnings call, Michael Saylor (co-founder and former CEO of the company) urged the US government to create a formal crypto taxonomy, stating that a lack of clear definitions is a major barrier to innovation and institutional adoption.

He emphasized the need for clear legal distinctions between digital securities, commodities, and tokens, particularly when securities can be tokenized.

Saylor posed several questions such as “Under what circumstances can you tokenize a security?”, “What’s a digital security?”, “What’s an asset without an issuer?” as he argued that absence of such clarity creates regulatory confusion and pushes innovation offshore.

The f…

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