BitGo on Why the Travel Rule Should Not Apply to Digital Assets - Ep.266

Published: Aug. 24, 2021, 8:45 a.m.

BitGo CEO Mike Belshe and COO Jeff Horowitz talk about one of the hottest topics facing the crypto industry today: regulation. They discuss...\n\nwhat BitGo does\n\nwhy Jeff left his successful TradFi career to go crypto\n\nhow crypto compliance and custody differs from the traditional finance world\n\nthe state of crypto education amongst regulators\n\nwhy Jeff and Mike think the infrastructure bill is a win for the crypto industry\n\nwhat FinCEN is doing to regulate crypto\n\nwhy they think the infrastructure bill\u2019s goal of raising billions in crypto taxes could only bring in millions\n\nwhat FATF guidance regarding VASPs requires of crypto companies\n\nwhy the travel rule could lead to US customer data being shared overseas\n\nhow digital assets change the implications of the travel rule\n\nhow regulators are attempting to deal with DeFi\n\nwhat the FATF guidance means for FATF countries, like the US\n\nwhy DeFi is not ready for strict regulations\n\nJeff\u2019s views on Brian Brooks\u2019s departure from BinanceUS\n\nthe Galaxy Digital acquisition of BitGo\n\nwhat security issues a trillion-dollar wallet presents\n\nwhy BitGo refused to put a \u201cfreeze\u201d function in its WBTC contract\n\nwhy Tesla and MicroStrategy purchased BTC and why other companies have been slow to follow suit\n\nwhether BitGo will offer NFT solutions going forward\n\n\xa0\nThank you to our sponsors!\n\xa0\nCrypto.com: https://crypto.onelink.me/J9Lg/unchainedcardearnfeb2\xa0\xa0\xa0\nPolymarket: https://polymarket.com/\xa0\n\xa0\nEpisode links\n\xa0\nMike Belshe -- CEO BitGo\n\nLinkedIn: https://www.linkedin.com/in/mikebelshe/\xa0\n\nTwitter: https://twitter.com/mikebelshe\xa0\n\nPrevious Unchained appearance: https://unchainedpodcast.com/mike-belshe-on-what-bitgos-kingdom-trust-acquisition-means-for-crypto-and-how-security-will-develop-in-the-future/\xa0\n\nJeff Horowitz -- CCO BitGo\nLinkedIn: https://www.linkedin.com/in/jeff-horowitz-3381977\n\n\xa0\nBitGo\n\nWebsite: https://www.bitgo.com/\n\n\nTwitter: https://twitter.com/BitGo\n\n\nBlog: https://blog.bitgo.com/\xa0\n\nGalaxy Digital purchase: https://www.coindesk.com/galaxy-digital-to-buy-bitgo-for-about-1-2-billion-in-stock-cash\xa0\n\nFATF solution: https://www.coindesk.com/us-crypto-giants-build-first-version-of-fatf-compliant-travel-rule-tool\n\n\nNew York Trust Charter: https://decrypt.co/60110/bitgo-new-york-trust-charter-crypto-wall-street\xa0\n\n\xa0\nInfrastructure bill and its implications for crypto\n\n\n https://twitter.com/mikebelshe/status/1424163820726009861\xa0\n\n https://www.wsj.com/articles/bitcoin-fans-are-suddenly-a-political-force-11629115380\n\n https://www.coindesk.com/infrastructure-bill-house-politics\n\n https://www.cnbc.com/2021/08/16/tax-foundation-infrastructure-bill-crypto-tax-provision-is-unworkable.html\n\n https://decrypt.co/78198/senate-passes-infrastructure-bill-crypto-tax-house\n\n https://www.taxnotes.com/featured-analysis/proposal-regulate-digital-asset-transactions-should-be-struck/2021/08/13/775gf#.YRfX9GEX2GI.twitter\n\nhttps://twitter.com/vtg2/status/1426264859071627266\n\n\n https://twitter.com/BlockchainAssn/status/1427276559052910599\xa0\n\nUnchained coverage:\xa0\n\n https://unchainedpodcast.com/how-congress-might-pass-laws-bad-for-proof-of-stake-and-defi/\n\n https://unchainedpodcast.com/crypto-got-screwed-what-happens-next-in-the-senate/\n\n https://unchainedpodcast.com/this-bill-looks-very-bad-for-crypto/\n\n\xa0\nFATF and the travel rule\n\n https://sumsub.com/blog/what-is-the-fatf-travel-rule/\n\nUnchained coverage:\n\n https://unchainedpodcast.com/why-the-travel-rule-is-one-of-the-most-significant-regulations-in-crypto/\n\n https://unchainedpodcast.com/why-proposed-fatf-rules-could-be-a-shock-for-defi/\n\n\nLearn more about your ad choices. Visit megaphone.fm/adchoices