A 5-Pronged Approach to Sensible Crypto Regulation After FTX

The collapse of crypto exchange FTX guarantees that crypto regulation will be on the U.S. legislative agenda for 2023 at long last. Six bills were introduced in 2022, some broad ranging and others narrowly focused on various aspects of compliance or investor protection.

Its clear that theres a lot of confusion. The U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) are jockeying for position. There are many voices in the room. Some of the loudest still want no regulation. That includes people within the industry and anti-crypto lawmakers who think regulating crypto legitimizes it.

This opinion piece is part of CoinDesk's Policy Week. Mike Belshe is CEO of BitGo, a regulated crypto custody, financial-services and infrastructure provider.