US Legislators Working on Cryptocurrency Regulation—Kevin O’Leary

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Popular Shark Tank panelist Kevin O’Leary recently revealed in a series of tweets that he sat in a bipartisan meeting with some US legislators to talk about cryptocurrency regulation. O’Leary tweeted last Thursday:

“Spent my day at the Senate with a bipartisan group of policymakers who get the joke on crypto. They are working on [a] policy that will open these markets to institutional investors.

The good news is they are all over it and agree there is a tremendous opportunity once they pass policy. Stay tuned, I left them feeling optimistic.”

He also tweeted an appreciation message to pro-Bitcoiner Senator Cynthia Lummis for hosting the meeting. The Wyoming Senator replied to the tweet, noting: “It was great to have you, Kevin O’Leary. What a turnout (bicameral and bipartisan). Big things [are] coming. Feeling bullish.”

O’Leary replied to the Senator noting: “Senator Lummis is 100% right. Whoever heard of going to the Hill and having a bipartisan discussion. I thought I was dreaming.”

Institutional Players to Come Onboard Once US Legislators Finalize Cryptocurrency Regulatory Framework

In another tweet last week Kevin O’Leary aka Mr. Wonderful noted:

“Bitcoin, Ethereum, Polygon, all these blockchains — it’s all software. The growth rate of these new innovations is phenomenal, and there’s capital coming in from all around the world.”

The Shark Tank star has always argued that many institutional investors are eagerly waiting for a convenient time, regulation-wise, to invest in Bitcoin and other cryptos.

Last month he asserted that he expected BTC to “appreciate dramatically” between two to three years “when institutions can finally buy it.” O’Leary explained: “In the indexing business, for all the hype around bitcoin, none of those institutions own a single coin. And they are not going to until their compliance departments allow for the ESG mandates.”

 

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.