The SEC’s controversial new proposal that would require registered investment advisors to use an independent, regulated, qualified custodian is prudent policy, BitGo CEO mikebelshe argues. Opinion.
in February 2023 to expand the types of digital assets included in the so-called Custody Rule shows that regulators are moving quickly to take actions they perceive will safeguard the crypto industry.
Modern traditional finance segregates business lines such as trading, financing and custody and uses a robust system of checks and balances. It therefore makes sense for digital assets to follow that same framework, learning from the past mistakes of traditional finance. Even when looking at a small subsection of the history of traditional finance regulation, the advancement from the FTX crash to sensible rulemaking about crypto custody happened much more quickly.
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