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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Impact of SAB-121 Overturn
- The overturn of SAB-121 allows legacy custodians to enter crypto, promoting broader participation in the industry.
- Responsible regulation clarity is crucial to enable fair involvement of all market players.
Flaws in Crime Enforcement
- Crime enforcement focusing on suspect money flows is ineffective and far removed from actual crimes.
- Tackling crime should focus on offenders and underlying criminal acts, not just following financial transactions.
Bitcoin's Deterrent Effect on Crime
- Criminals avoid Bitcoin now since it exposes them; they prefer dollars for illicit activity.
- Bitcoin acts as a tracking mechanism making it less attractive for illegal transactions.