Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has warned that crypto regulation in the US is “getting very aggressive.” Note that regulators are currently “regulating through enforcement, penalties and substantial fines”. So O’Leary emphasized the importance of staying away from the Securities and Exchange Commission (SEC), Chairman Gary Gensler and other regulators.
Kevin O’Leary – Shark Tank Star
Kevin O’Leary shares his thoughts on crypto regulation
Shark Tank star Kevin O’Leary has share Its outlook on the crypto industry following multiple enforcement actions by the SEC.
“Venture funding for new crypto projects is mostly dead, and market transactions after projects go live are now plummeting. The reason? Regulators through enforcement, penalties, and huge fines. The venture capital community has moved on to the next big thing, artificial intelligence.”
In an interview with Trader TV Live published Sunday, O’Leary explained that U.S. lawmakers were “angry” at having to meet regularly to address crypto firm failures following the failure of the FTX exchange. The Shark Tank star described the senators as “bored” and “really tired of meeting every six months when the next crypto company goes bankrupt and goes to zero.” He believes this is one of the reasons why SEC Chairman Gary Gensler recently cracked down on exchange Kraken over their staking scheme.
Emphasizing the SEC’s enforcement-focused approach to industry regulation, O’Leary warned:
“The environment has become very aggressive and regulators are popular with senators, congressmen and women. They’re the ones who are saying ‘what’s this? We’ve had enough. “
O’Leary warned that unregulated exchanges will be shut down or zeroed in by regulators in the next few years. He emphasized:
“You have to be ready for regulation. You have to stay away from Gensler, SEC and other regulators. Those Washington punks are not happy… FTX made fun of the bear. Bear woke up and was not happy,” O’Leary concluded.
The Shark Tank star said earlier this month that most tokens are worthless, noting that they “will eventually go to zero.” O’Leary has recently been criticized by the crypto community for his multiple endorsements of disgraced FTX co-founder Sam Bankman-Fried (SBF). gentlemen. Wonderful was paid $15 million to represent FTX.
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