• Mike Belshe, Co-Founder and CEO of BitGo, talks about US crypto regulations and how they should Be Principles-Based, and institutional crypto adoption.
• Mike Belshe drives product and business strategy for delivering security, compliance, and custodial solutions for blockchain-based currencies.
• 35% of the 510 exchanges in the world use BitGo wallet or BitGo services and it processes approximately 20% of all global Bitcoin transactions by value.

Mike Belshe On U.S. Regulatory Environment

Mike Belshe, Co-Founder and CEO of BitGo, discussed US crypto regulations and how they should be principles-based in an exclusive interview with cryptonews.com. He believes that most of the problems that we have today stem from regulators that move too slowly but that a principles-based approach increases adaptability and flexibility for regulators without advocating for deregulation or a light touch.

About Mike Belshe

Mike Belshe drives product and business strategy for delivering security, compliance, and custodial solutions for blockchain-based currencies at BitGo which he co-founded in 2011 before helping develop the internet as we know it today as an advanced tech pioneer.

BitGo’s Accomplishments

35% of the 510 exchanges in the world use BitGo wallet or BitGo services while also being the sole institutional custody provider for wrapped Bitcoin (WBTC). Additionally, it processes approximately 20% of all global Bitcoin transactions by value.

Regulators Should Adapt Quickly

Belshe believes that regulators should move more quickly to adapt to new technology so as not to put startups at risk due to regulatory uncertainty which has recently been seen with Prime Trust being shut down by its regulator a couple days ago.

Conclusion

Overall, Mike Belshe’s discussion on US crypto regulations highlighted his belief that principles-based approaches are needed to increase regulator flexibility without advocating for deregulation or a light touch; all while recognizing that regulators need to move quickly when adapting to new technologies such as blockchain in order to support startups rather than shutting them down due to regulatory uncertainty.