BitGo on Why the Travel Rule Should Not Apply to Digital Assets

August 24, 2021by Laura Shin

BitGo CEO Mike Belshe and COO Jeff Horowitz talk about one of the hottest topics facing the crypto industry today: regulation. They discuss…

• what BitGo does
• why Jeff left his successful TradFi career to go crypto
• how crypto compliance and custody differs from the traditional finance world
• the state of crypto education amongst regulators
• why Jeff and Mike think the infrastructure bill is a win for the crypto industry
• what FinCEN is doing to regulate crypto
• why they think the infrastructure bill’s goal of raising billions in crypto taxes could only bring in millions
• what FATF guidance regarding VASPs requires of crypto companies
• why the travel rule could lead to US customer data being shared overseas
• how digital assets change the implications of the travel rule
• how regulators are attempting to deal with DeFi
• what the FATF guidance means for FATF countries, like the US
• why DeFi is not ready for strict regulations
• Jeff’s views on Brian Brooks’s departure from BinanceUS
• the Galaxy Digital acquisition of BitGo
• what security issues a trillion-dollar wallet presents
• why BitGo refused to put a “freeze” function in its WBTC contract
• why Tesla and MicroStrategy purchased BTC and why other companies have been slow to follow suit
• whether BitGo will offer NFT solutions going forward

Thank you to our sponsors!

Crypto.com: https://crypto.onelink.me/J9Lg/unchainedcardearnfeb2   

Polymarket: https://polymarket.com/ 

Episode links

Mike Belshe — CEO BitGo

Jeff Horowitz — CCO BitGo

BitGo

Infrastructure bill and its implications for crypto

FATF and the travel rule

FinCEN reporting

Miscellaneous links