Bitgo CEO Mike Belshe, Galaxy Digital and New York Chief Public Prosecutor after the agreement reached the agreement for the applications in the sector called for arrangements. Belshe said that some of the practices of the sector are harmful and that the sector may experience negative reflections with movements contrary to ethical principles.
REGULATION NEEDS IN CRIPTO
Mike Belshe said in his statement that the New York Chief Public Prosecutor’s claims against Galaxy Digital were based on strong arguments. The company said that it is wrong to put the tokens for sale before the acquisition period and misleading investors.
Mike BELSHE: “Whether or not, or not, these practices are not ethical and damage the reputation of the sector. This kind of behavior can lead to more strict arrangements when they are not controlled.”
Galaxy Digital reached an agreement with the New York Chief Public Prosecutor due to controversial transactions on Terra (Luna) sales. This led sector leaders to reconsider their methodologies and behavior. While Belshe advocated the implementation of regulations through principles, emphasized the necessity of transforming the sector into more transparent, honest and ethical working principles.
Innovations in regulatory steps
Some sector representatives who have opposed regulations for a long time have begun to evaluate new approaches after changes in the US Securities and Stock Exchange Commission. In particular, FDIC’s regulatory notifications for financial institutions and Stablecoin developed by Fidelity Investments in the public blockchate are considered as positive signals for the sector.
Mike Belshe’s principle -based understanding of arrangement can allow the market to increase the transparency of the market and to avoid leaders’ conflicts of interest. This approach may play an important role in reshaping the expectations of the market’s healthy functioning.
In the statements, the ethical and responsible act of the relevant stakeholders will increase the reliability of the sector and cooperation with regulatory institutions will contribute to the development of the sector.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
