Mike Belshe, CEO of digital asset custodian BitGo, explained that as the U.S. Clarity Act fails to progress, the cryptocurrency market continues to face systemic risks. He specifically pointed out that the structure where a single entity simultaneously handles trading platform operations, brokerage, and asset custody is problematic. He explained, "If one brokerage collapses, the damage may be limited to a part, but if an institution that operates both exchange and custody services collapses, the impact can spread across the entire market."
