BitGo Inc., a leading developer of institutional digital asset infrastructure, had a meeting with U.S. Securities Exchange Commission (SEC) Chairman Paul Atkins on September 10, 2025 and appropriate personnel to discuss the agency’s “Project Crypto” initiative. The meeting included two of BitGo’s leadership figures: Co-Founder and CEO Mike Belshe and Vice President of Corporate Development J. Baylor Myers.
The focus of the discussion was to refresh custody rules, increase market transparency, and adopt recommendations from the President Trump crypto working group.
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:
Custody Rule Enhancements: 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.
Congressional Bills: 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.
Market Structure: 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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