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BTC Strategy执行主席迈克尔·塞勒提出数字资产“五项权利”框架
Strategy执行主席迈克尔·塞勒（Michael Saylor）概述了一项政策框架，该框架围绕他认为个人和企业对数字资产所需的五项权利展开：创造、发行、托管、转移和使用数字资产的能力。他在9月22日至23日于华盛顿国家新闻俱乐部举行的“自由科技DC峰会”上，与比特币政策研究所（Bitcoin Policy Institute）总经理康纳·布朗（Conner Brown）的讨论中提出了这一提案。
塞勒认为，人工智能将使个人和企业能够生产出远超当今水平的成果，因此，融资、拥有和交换资产的能力变得愈发重要，而非无关紧要。他呼吁制定一份“数字权利法案”，而非“限制法案”。
为数百万新公司提供融资便利
该提案的核心在于利用数字代币降低融资门槛。塞勒表示，政策制定者应制定清晰的发行规则和披露要求，使其足够简单，以至于没有庞大法律团队的创业者也能使用，其目标是 enabling 1000万家新公司通过该技术筹集资金。
He made similar views on tokenized securities, pointing out that investors holding tokenized stocks should be able to freely transfer assets between different custodians and financing providers rather than being restricted to a single platform. Thaler describes "self-custody" as a source of leverage for investors, even if they end up choosing to use custody services, because the ability to "leave anytime" gives customers bargaining power over service fees and terms.
On the banking side, Thaler called for allowing banks to hold Bitcoin (BTC) and use it as collateral to provide credit, while allowing insurance companies to include it on their balance sheets. He pointed out that the 1,250% risk weight set in the Basel Accord for exposure to certain crypto assets is a capital treatment that he believes regulators should review.
Reporting rules urgently need to adapt to the new era
Thaler also discusses financial privacy issues, arguing that ordinary transactions below meaningful thresholds should not trigger regular government reporting obligations. He cited federal currency transaction reporting rules, which require reporting on cash transactions exceeding $10,000 and have not changed since 1972. According to a 2024 U.S. government estimate he cited, if adjusted for inflation to the value of the 2023 dollar, the threshold is approximately $72,880.
他提议对小额数字资产购买实行单独豁免，认为目前20美元或200美元的免税支出上限对于家庭晚餐或其他日常消费来说太低。根据现行的美国税收规则，使用数字资产可能涉及计算和报告收益或损失，塞勒称这阻碍了技术的日常使用。
在合规性方面，塞勒提议让投资者只需验证一次身份，即可在多家金融服务提供商之间重复使用该凭证，而不是每次与新交易对手打交道时都重复进行“了解你的客户”（KYC）检查。他表示，现有的银行规定已允许有限度地依赖其他机构的身份验证，并认为扩大这一做法可以在不降低服务提供商监测可疑活动责任的前提下，降低客户入职成本。
塞勒还将他的提案与人工智能联系起来，他认为AI代理将越来越多地代表个人和公司进行交易，因此需要可编程、全天候可用的金融基础设施，以在非人类工作时间运行。他描述比特币和其他数字资产适合扮演这一角色，因为它们可以高速数字化移动，这与实物资产不同。
He is critical of the CLARITY Act, market structure legislation that failed to pass a vote to end debate in the Senate earlier this year. Siler believes the bill places too much emphasis on restrictions rather than expanding people's ability to create, own, transfer and use things. Siler said he expects that over the next two years, the Securities and Exchange Commission, the Commodity Futures Trading Commission, the Treasury Department and the White House will provide a more promising path to implementing his proposed framework, and believes widely used products can build lasting public support for the industry in ways legislation cannot. He expressed his belief that digital assets are expected to grow into a trillion-dollar industry.
