BitGo CEO Mike Belshe warns that the failure to pass the Clarity Act leaves the U.S. market facing systemic risk, when a company simultaneously runs a trading platform, a brokerage, and a custodian for assets.

Theo Belshe, the risk lies in concentrating these functions within a single company. If a trading platform that also serves as a custodian for assets collapses, the consequences could ripple through the entire market.

Belshe believes this model creates a kind of risk that even Lehman Brothers did not have. He distinguishes the collapse of a brokerage firm from the collapse of a trading platform that is holding assets in custody.

Source: https://tintucbitcoin.com/ceo-bitgo-luat-clarity-that-bai-my-doi-mat-rui-ro-he-thong/

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