Saylor "US Crypto Bill Stranded, Will Boost Bitcoin (BTC) Fund Inflow"

▲ US Congress, Bitcoin (BTC), Cryptocurrency Regulation/AI Generated Image

As the US cryptocurrency market structure bill failed to pass the Senate, Michael Saylor predicted that more funds could flow into Bitcoin (BTC).

According to crypto media outlet Coingape on September 16 (local time), Michael Saylor, Chairman of Strategy, predicted that regulatory agencies would continue to establish cryptocurrency rules based on current laws, even if the bill's processing in Congress was delayed. He stated, “With the US cryptocurrency market structure bill stalled, I expect the US Securities and Exchange Commission (SEC), the US Commodity Futures Trading Commission (CFTC), and the Treasury Department to advance rules under existing laws,” adding, “Progress does not necessarily have to wait for Congress.”

Saylor also anticipated an expansion of Bitcoin custody services and Bitcoin-backed loans in the banking sector. He explained that these changes could attract more funds into Bitcoin and the digital credit market. Referring to GENIUS, the stablecoin regulation act that has already established a stablecoin regulatory framework, he emphasized, “The only clarity needed is Bitcoin.”

Coinbase CEO Brian Armstrong also focused on the role of regulatory agencies after the Senate vote. While expressing disappointment that the bill did not advance, Armstrong stated that the SEC and CFTC could proceed with rule-making using their existing authority. He also explained that the possibility of bringing the bill to a vote again, while continuing bipartisan negotiations, remains open.

Bernstein also expected SEC and CFTC rule-making to become more active. The analysis team led by Gautam Chhugani analyzed that regulatory agencies' actions could be “aggressive and swift” during ongoing legislative negotiations. They anticipated that regulators would primarily focus on token classification, decentralized finance, self-custody, and tokenized stocks, and also identified real-world asset perpetual futures and individual stock perpetual products as areas with potential for advancement.

The US cryptocurrency market structure bill was defeated in a procedural vote in the Senate with 49 votes in favor and 50 against, falling short by 11 votes from the 60 required for passage. Coingape reported that negotiations stalled over ethics clauses related to US President Donald Trump's cryptocurrency interests. However, this vote alone does not end the bill's review, and it can be put to a vote again in the Senate if sufficient support is secured.

[Article Key Summary]

-Michael Saylor predicted that even if the US cryptocurrency market structure bill's processing is delayed, the SEC, CFTC, and Treasury Department will continue to establish rules based on current laws.

-Saylor anticipated that the expansion of Bitcoin custody and collateralized lending in the banking sector could attract more funds into Bitcoin.

-The US cryptocurrency market structure bill was defeated 49-50 in a Senate procedural vote, but the possibility of a future re-vote remains.

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