Michel saylordirector and CEO of MicroStrategy, is making a public call for the cryptocurrency world (which at this point excludes Bitcoin) to be more strictly regulated. A position which may seem peculiar to many but which in reality is not, and which, as we shall see, was in fact the soul of the law proposed in the United States for industrial standardization.
The leader of the first company treasure in $BTC it is therefore due to regulatory pressure on the sector which is developing alongside the world of Bitcoin and which, at least according to him, would continue to tarnish the reputation of the first. Regulation from which, he adds, virtually everyone will benefit.
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Michael Saylor has been part of the 'regulatory lobby' that has been talked about for some time now
In fact, tonight is a Confirmation of what many already suspected and what the head of, for example, denounced gimbals. It would be created on the upper floors of Bitcoin and in the field Company a kind of hall which would aim to push for the regulation of the altcoin and DeFi. The same lobby that would push for recognition of different “alternative” cryptos such as securities and therefore as financial securities. And so, we add, as a subject of possible legislation SECONDnotoriously stricter than that of CFTC.
A situation which is the regular course of things but which has already created irreparable fractures between those who are also pushing at the political and corporate level Bitcoin and those who would like to push their projects. With the former, however, they would have a pretty solid case for the market and politics to go that way.
What we have is 400 billion securities that are unregistered, opaque and traded without full and effective disclosure – and they are all cross-collateralized with Bitcoin.
A kind of complaint arising from the fact that, in the opinion of Saylor — and he's partially right — liquidations triggered by crypto funds and other industry activity have also had a significant impact on the price of Bitcoin.
We remain a little more skeptical than a settlement of SECOND can effectively limit this type of activity, as the funds would have to do nothing but operate outside the markets United States.
A battle that has just begun
The battle between those who want the institutionalization of Bitcoin and those who want a jungle in the world DeFi in our opinion, it is just beginning. What is certain is that in the United States it actually appears to be moving in the direction indicated by Michel saylor.
This is stricter legislation concerning the aspect financial of the DeFi and a kind of attempt to bring it back to the great rules of the classic finance world.
We'll see if that won't just cause a breakout of Washington different funds and managers, who may find more freedom elsewhere. This remains curious for us, and we say it clearly even if the word is a sacred monster like saylorhow to complain about those who use it directly or indirectly Bitcoin as collateral, even with absurd levers.
Why or Bitcoin, how Saylor he said on odd days, it is an uncensorable currency and one that we can only control when it is in our wallets, or when we publicly complain about the ugliness, filth and wickedness of those who use it for financial transactions, perhaps even reckless ones.
If someone were to ask for stricter rules because a certain company has more 120 bitcoin at the checkout, are we really sure that the president of the said company would not suddenly change position? Difficult to discuss calmly, because after all personal motivations are also at stake. And it is quite naturally that everyone tries to bring water to their mill.