Wu said that MicroStrategy CEO Michael Saylor released a proposal (U.S. Digital Asset Framework, Principles, and Opportunities). The framework divides digital assets into six categories: non-issuer digital commodities supported by computing power (such as Bitcoin), issuer digital securities, digital currencies, digital utility tokens, digital NFTs, and asset-backed digital tokens (such as tokens backed by gold and oil). In practical terms, Saylor suggests limiting the compliance costs of asset issuance to within 1% of the managed asset size, with annual maintenance costs not exceeding 0.1%. He also proposed lowering issuance costs (from the tens of millions of dollars to the hundreds of thousands) to expand the capital market access threshold from the current 4,000 listed companies to 40 million enterprises. He specifically recommends establishing a Bitcoin reserve, believing this could create $16-81 trillion in wealth for the U.S. Treasury and provide a new way to offset national debt.

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