SEC Teams Up with BitGo on ’Project Crypto’ to Revolutionize Regulation

SEC finally gets serious about crypto—partners with BitGo to drag regulation into the 21st century.

The Game Plan

Forget paperwork mountains and analog oversight. The SEC's 'Project Crypto' leverages BitGo's institutional-grade custody tech to monitor digital assets in real-time. No more guessing games—regulators get direct visibility into blockchain transactions while maintaining security protocols that would make Fort Knox blush.

Why It Matters

Traditional finance oversight moves at glacial speed while crypto operates at light speed. This collaboration bridges that gap—creating regulatory frameworks that actually understand blockchain mechanics instead of treating digital assets like suspicious foreign concepts.

Wall Street's worst nightmare: regulators who finally get it. Maybe they'll stop confusing Bitcoin with that Ponzi scheme their intern warned them about last quarter.

Why did SEC meet BitGo?

BitGo’s delegation, led by Belshe and Myers, presented their perspective on adapting existing custody rules for digital assets. The discussion focused on the need for clear guidelines for market participants and the role of qualified custodians in ensuring investor protection. The agenda, which was also attached to the SEC memo, included topics such as:

BitGo aims to give best practices for secure storage, such as multi-signature wallets, and offer guidance on how to modify existing rules to mitigate crypto-specific risks such as private key management and cyber security threats.

The company delegates wish to discuss how the SEC can utilize its authority to enact change that is incremental to pending market structure bills and the GENIUS Act.

BitGo will present its view of how broker-dealers and investment advisers can compliantly manage crypto transactions in a changing regulatory environment.

The meeting follows SEC Chairman Paul Atkins’ landmark speech in July, where he unveiled “Project Crypto” and signaled a pivot away from the prior administration’s enforcement-heavy approach. The initiative seeks to establish clear rules for crypto asset distributions, custody, and trading.

The meeting with BitGo is a clear indication that the SEC is actively seeking input from industry leaders as it develops its new framework. At the same time, BitGo’s request also reflects an increasing interest among industry champions to engage actively with regulators.

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