Key Takeaways:

MicroStrategy’s Michael Saylor urges the US government to define digital securities vs. commodities and outline when securities can legally be tokenized.

The White House Working Group and SEC are pushing for clearer rules as tokenization demand grows.

Congress will review the Digital Asset Market Clarity Act in September, which could create a “rich framework” for tokenization and crypto issuance.

Robinhood and other firms are racing ahead on tokenization, despite regulatory scrutiny.

MicroStrategy’s co-founder Michael Saylor is calling on the US government to deliver long-awaited crypto regulatory clarity, arguing that markets need a clear taxonomy to define digital securities, commodities, and tokenized assets.

“It would be beneficial to the market if they nail down the digital assets taxonomy,” Saylor said during MicroStrategy’s Q2 earnings call on Thursday.

Saylor pressed regulators to address fundamental questions:

When can a security be tokenized?

What is a digital security versus a digital commodity?

What distinguishes an asset without an issuer from a digital token?

Without these definitions, Saylor warned, confusion will continue to stall innovation and force projects offshore.

White House and SEC Respond with Action

Saylor’s comments come as the White House Working Group on Digital Asset Markets urged regulators to speed up rulemaking for custody, trading, registration, and record-keeping.

Meanwhile, SEC Chair Paul Atkins acknowledged that “companies are lined up at our doors with requests to tokenize” and said he’s directed staff to “provide relief where appropriate” to keep the US competitive.

Atkins noted that much of tokenization innovation is already happening offshore — a trend the SEC hopes to reverse.

Crypto Legislation in the Pipeline

Congress will review the Digital Asset Market Clarity Act of 2025 in September, a bill Saylor believes could “create a very rich framework” for businesses looking to issue, trade, or tokenize assets.

“In the ideal world, 40 million businesses would be able to issue a token in four hours for $40,” Saylor said, highlighting his vision for mass tokenization.

Robinhood Bets Big on Tokenization

Meanwhile, Robinhood CEO Vladimir Tenev revealed during the company’s own earnings call that the brokerage is focusing on tokenizing private markets to unlock new investment opportunities for US retail investors.

“Private markets and related real-world assets are opportunities that don’t exist up until now,” Tenev said.

Robinhood has already launched private equity tokens in Europe mirroring companies like OpenAI and SpaceX — but those offerings have already faced a legal inquiry in Lithuania, and OpenAI clarified Robinhood’s tokens are not linked to its real equity.

Why This Matters for Crypto

The tokenization of securities and real-world assets (RWAs) is widely seen as the next frontier for blockchain. But without a legal taxonomy, companies face uncertainty and risk.

Saylor’s push — combined with moves from the SEC, White House, and Congress — signals that the US may soon establish a clear legal structure for tokenized assets, setting the stage for mainstream adoption, according to Cointelegraph.