BitGo CEO: Failure of CLARITY Act leaves US market facing systemic risk
- —Belshe: combining exchange, broker and custodian in one firm is a systemic risk
- —A custodian's collapse would hit the market harder than a broker's, he said
- —Such a structure did not exist even at Lehman Brothers
- —The root cause is the stalled CLARITY Act in the US
Why it matters: A warning about the US regulatory vacuum: without the law, large crypto firms face no risk separation, leaving the market more fragile.
Source: PANews