{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"The Scoop","title":"BitGo's Mike Belshe explains why regulators should embrace the openness of the blockchain","html":"","width":"100%","height":180,"duration":2266,"description":"Mike Belshe founded BitGo—the crypto financial services and custody firm—in 2013 with the original intention to help solve a pinpoint he identified when entering the bitcoin market early on: how to store crypto holdings safely.\n\"We forget about how easy loss is\", said Belshe.\nToday BitGo is more wide-spanning than just storage and custody, also covering lending, trading, and prime-related financial services. The firm is expected to complete its acquisition by Mike Novogratz's Galaxy Digital by end of 2021, creating an operation the two Mikes hope will bridge the crypto world with Wall Street.\nOn this episode of The Scoop, Mike Belshe CEO of BitGo joined host Frank Chaparro to talk about that deal between BitGo and Galaxy, BitGo's origin story, and why regulators should embrace the openness of the blockchain. \nIn Belshe's view, regulators—including Gary Gensler of the Securities and Exchange Commission—should actually lean into using blockchain to identify nefarious behavior, and say \"wait a minute we have this huge tool, let's use that.\"\nIn the event that the agency deems most cryptocurrencies as securities—a scenario Belshe said was unlikely—Belshe noted that regulators would lock out the US from the market's innovation.\n\nEpisode 57 of Season 3 of The Scoop was recorded remotely with The Block’s Frank Chaparro and Mike Belshe, CEO at BitGo.\nListen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to podcast@theblockcrypto.com.\nThis episode is brought to you by our sponsors Bakkt, Kraken, and Exodus\nBakkt® unlocks the $1.2+ trillion of digital assets that is currently held in cryptocurrencies, rewards and loyalty points, gaming assets and merchant stored value. We began in 2018 with the vision to bring trust and transparency to digital assets. Through the Bakkt Warehouse and Bakkt Bitcoin Futures and Options contracts, we serve institutional clients in an...","thumbnail_url":"https://img.transistorcdn.com/kC6kzNjgr18dm0FmBfV_f9xccAkjj-QXoCJmVNlNtrU/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS8xZmIz/N2E5MmRmMzJjOTU3/OTNhYjJkYzcxZTlj/MTU2Yi5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}