Stalled Clarity Act Sparks Market Structure Woes, Warns BitGo

BitGo CEO Mike Belshe has sounded an alarm about the risks to U.S. market structure after the Clarity Act stalled in the Senate on September 15th.

Belshe argues that digital asset firms combining exchange, custody, and brokerage functions increase custody and credit risk, making a systemic failure more likely.

He points to Coinbase as an example of a firm that has recently received a derivatives clearing organization license in addition to its existing futures commission merchant license and exchange operations.