BitGo CEO Mike Belshe says the CLARITY Act puts the United States on the right track for crypto regulation, arguing that nearly every other major economy has already moved to define clear rules for digital assets while the US continues to lag behind. Speaking to Crypto Banter, Belshe stressed the need for a solid legal framework that gives both investors and companies the stability to plan long-term.
Belshe, who co-founded BitGo — the world's largest independent cryptocurrency custodian — has been one of the industry's more consistent voices on regulation, repeatedly telling outlets including Bloomberg that codifying crypto rules into law is the only way to avoid the kind of policy whiplash that comes with a change in administration. He has also taken aim directly at firms lobbying against the bill, arguing that the companies fighting the CLARITY Act hardest may ultimately need its legal certainty the most.
What the Clarity Act Actually Does
The legislation attempts to resolve one of the industry's longest-running disputes by dividing regulatory authority between the Commodity Futures Trading Commission and the Securities and Exchange Commission, while also introducing a dedicated framework for stablecoins and other digital assets. Belshe's argument is that without this kind of statutory division of labor, traditional banks remain reluctant to build crypto products or custody digital assets at scale, since they can't be certain which regulator's rules will apply — or whether those rules will survive the next election cycle.
Industry Money Is Already Betting on This Outcome
Belshe's public advocacy is part of a broader, well-funded push. Crypto political groups have already endorsed 32 midterm candidates while the industry has spent close to $200 million on the current election cycle, a scale of spending that reflects how much weight companies like BitGo are putting on getting a durable legal framework passed rather than relying on favorable agency guidance that a future administration could simply reverse.
Related: Stand With Crypto Endorses 32 Midterm Candidates as Industry Spends Nearly $200M
What to Watch
The Clarity Act's path through Congress remains the key variable — markup timing, Senate floor time, and whether the CFTC/SEC jurisdictional split survives industry lobbying in its current form. Belshe's comments suggest BitGo will keep pushing publicly for passage rather than waiting quietly, and the next marker to watch is whether Congress moves the bill before the current session's legislative calendar tightens ahead of the midterms.
