The Wolf Of All Streets
This Is Bitcoin’s Turning Point: Custody, Stablecoins & The New Crypto Rules l Mike Belshe
Apr 20, 2025
Mike Belshe, CEO of BitGo and a champion for crypto regulation, discusses the evolving landscape of cryptocurrency. He highlights the implications of recent regulatory changes on custody and the backbone role of stablecoins in reshaping finance. Belshe critiques how crime prevention relates to digital assets and emphasizes the need for self-custody as regulations shift. The conversation also delves into the impact of banking dynamics on crypto and the necessity of a balanced regulatory approach to foster innovation while mitigating risks.
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Quick takeaways
- The repeal of SAB-121 is viewed as a positive shift, enabling traditional custodians to engage in the crypto market under improved regulations.
- Stablecoins have the potential to enhance traditional banking systems by offering competitive interest rates and better payment options amidst regulatory scrutiny.
Deep dives
The Historical Context of Silicon Valley and Crypto Regulation
Silicon Valley's significant distance from Washington, D.C. has allowed it to thrive by fostering innovation without heavy governmental oversight. Currently, 50 million Americans hold digital assets, and the political landscape suggests a shift towards more favorable regulation and legislation for cryptocurrencies. Notably, industry leaders are increasingly engaging in the political process, emphasizing the need for proactive regulation that fosters growth rather than stifles it. The recent repeal of SAB-121 is viewed positively, as it opens doors for traditional custodians to participate in the crypto space, ensuring a more robust regulatory framework.
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