Belshe Slams CFTC Regulatory Pace as Crypto Industry Awaits Clarity

Mike Belshe, co-founder of digital asset custodian BitGo, has expressed his frustration with the slow pace of regulatory developments at the US Commodity Futures Trading Commission (CFTC).

Belshe highlighted the need for clear and timely guidance from regulators to enable businesses in the crypto industry to operate effectively within existing frameworks.

He argued that 'regulation by enforcement' is not an effective approach, advocating instead for proactive guidelines that allow firms to collaborate with regulators rather than circumventing them.

Belshe's remarks at the CFTC's first Innovation Advisory Committee meeting reflect broader concerns about the industry's operational stability and the need for regulatory clarity in a rapidly evolving market.