Mike Belshe, the CEO of BitGo, urges for regulatory measures in the cryptocurrency sector following settlement between Galaxy Digital and New York Attorney General.
The Need for Regulation in Crypto
Mike Belshe noted that the allegations against Galaxy Digital were well-founded. He criticized the company's decision to sell tokens before the acquisition period expired and misleading investors.
Innovations in Regulatory Steps
Some industry representatives, who have long opposed regulations, are now reconsidering their approaches. The application of regulatory notices to financial institutions and the development of stablecoins are seen as positive signals for the sector.
Importance of Ethical Standards
According to Belshe, the implementation of ethical and responsible actions will bolster sector reliability, and collaboration with regulators will contribute to its development.
Belshe emphasizes the necessity of more transparent, honest, and ethical operational principles in the cryptocurrency industry to help avert strict regulatory measures in the future.
