Strategy’s Michael Saylor Proposes Five Digital-Asset Rights
The framework covers digital-asset creation, issuance, custody, transfer and use, plus expanded banking and digital-dollar services.
Strategy Executive Chairman Michael J. Saylor has proposed a five-part framework establishing proposed rights to create, issue, custody, transfer and use digital assets, alongside broader financial services for the sector.
Saylor presented the framework in an essay published Sept. 26. He tied the proposal to artificial intelligence, capital formation and the expansion of digital-dollar products. The framework is a policy proposal rather than an introduced bill.
“The age of Digital Assets and Digital Intelligence needs a bill of digital rights, not a bill of restrictions,” Saylor wrote.
The proposal sets an ambition of enabling 10 million new companies to raise capital through digital assets. Saylor also projected that digital assets could grow into a $100 trillion industry, presenting the figure as a long-term ambition.
The banking provisions would allow banks to custody Bitcoin (BTC) and extend credit against it under commercially workable rules. Saylor also proposed a path for insurance companies to hold digital assets on their balance sheets and use them in financial products.
Banks, fintech companies and technology platforms would be able to offer digital-dollar products under the framework. Issuers could compete on yield if they disclosed the associated risks to users.
The proposal addresses capital treatment under the Basel Framework. Under the Basel Framework, certain Group 2b cryptoasset exposures carry a 1,250% risk weight, effectively setting the minimum risk-based capital requirement at the full exposure amount.
Saylor argued that regulators should apply different treatment to customer custody, loans backed by digital-asset collateral and proprietary bank holdings instead of using one capital standard for all three activities.
The framework builds on a memorandum Saylor submitted to the Securities and Exchange Commission in February 2025. That document called for clearer digital-asset categories, self-custody and transfer rights, standardized disclosures and faster, less expensive issuance.
The earlier memorandum compared 40 million businesses with 4,000 public companies and argued that digital assets could widen access to capital markets. It said issuance costs of $10 million to $100 million could fall to between $10,000 and $100,000.
Saylor placed the latest proposal in the context of artificial intelligence, arguing that AI could increase the number of businesses and products created and raise demand for faster, cheaper financing.
He presented the framework after appearing at the Freedom Tech DC summit in Washington, D.C., on Sept. 22–23. The proposal addresses digital-asset rules as Congress continues considering market-structure legislation, including the unresolved Clarity Act debate.
