Michael Saylor Releases Proposal for US Digital Asset Framework

Here is the English translation: The MicroStrategy CEO Michael Saylor has released a proposal titled "The U.S. Digital Asset Framework, Principles, and Opportunities". The framework categorizes digital assets into six types: digital commodities (such as Bitcoin) supported by computational power without an issuer, digital securities with an issuer, digital currencies, digital utility tokens, digital , and digital asset-backed tokens (such as tokens backed by gold or oil). In terms of practical implementation, Saylor suggests limiting the compliance cost of asset issuance to within 1% of the managed asset size, and the annual maintenance cost should not exceed 0.1%. He also proposes reducing the issuance cost (from the millions of dollars level to the hundreds of thousands of dollars level) to expand the access to the capital market from the current 4,000 listed companies to 40 million enterprises. He particularly recommends establishing a reserve, which he believes could create $16-81 trillion in wealth for the U.S. Treasury and provide a new avenue to offset national debt.