Kevin O’Leary Warns US Crypto Regulation to be ‘Too Aggressive’ – ‘You Have to Stay Out of the SEC’s Way’
Shark Tank star Kevin O’Leary has shared his in-depth perspective on the cryptocurrency industry and his thoughts on it following a series of regulatory actions by the US Securities and Exchange Commission (SEC). Mr. Wonderful tweeted on Monday that venture funding for the latest projects is decidedly dead and aftermarket trading for existing projects is heavily discounted. If we ask the reason then it remains a question as the regulator is now regulating by reflection and punishment and massive fine. Certainly the next thing that’s going to be the biggest thing in this industry is that artificial intelligence is gone. Mr. Wonderful explained in an interview published on Sunday that following the collapse of cryptocurrency exchange FTX, there is “angry” about lawmakers in the US meeting regularly to deal with crypto companies after their failure. He further described that the senator is definitely tired and is actually tired of gathering every 6 months and when the next cryptocurrency hits zero or blows up. He believes this is a big reason why the chairman of the Securities and Exchange Commission recently came down “heavy handed” on crypto exchange Kraken over its staking program. Adding to the Securities and Exchange Commission’s enforcement approach to regulation, the Shark Tank star says that this kind of environment is becoming more and more aggressive and that the rules are being lauded by senators and congressmen and women who Showing ‘What is this? We’ve had enough of this stuff and further warn that unregulated crypto currency exchanges will be put out of business by regulators in the next few years and go with that or to zero. Certainly the Securities and Exchange Commission and their chairman and other regulators have to get out of the way. He also said that the people living in Washington are not happy and are already suffering from the danger to come and the bears are awake and pissed off. Earlier this month he also said that most asset tokens are worthless, insisting that they will eventually launch, and recently criticized disgraced FTX co-founder Sam Bankman-Fried ( SBF) and was paid $15 million to be a spokesperson for FTX.
