Kevin O’Leary: 'I Want More Regulation, And I Want It Now'
Kevin O’Leary: 'I Want More Regulation, And I Want It Now'
O’Leary predicted that a market structure bill will open the floodgates for institutional investors into crypto: “ ... a trillion dollars will come in ...”
- Kevin O’Leary, chairman of O’Leary Ventures, called for more regulation in the crypto industry to encourage institutional adoption.
- O’Leary said the passage of the GENIUS Act in the U.S. will lead to significant market infrastructure developments and increased investment in crypto.
Kevin O’Leary Emphasizes Need for Increased Regulation to Boost Institutional Adoption in Crypto Market
The chairman of O’Leary Ventures, Kevin O’Leary, has highlighted the necessity for more stringent regulations within the cryptocurrency industry to facilitate its embrace by institutional investors. He expressed optimism that the passing of the GENIUS Act in the United States will pave the way for substantial advancements in market infrastructure and a surge in crypto investments.
O’Leary acknowledged that the current lack of regulation is impeding genuine institutional involvement with digital assets. Surprisingly, he voiced his desire for increased regulatory measures, stating firmly, “I want more regulation and I want it now.” Noteworthy is the appointment of Paul Atkins at the U.S. Securities and Exchange Commission, succeeding Gary Gensler, who had been criticized for his enforcement-focused regulatory approach.
Despite acknowledging Gensler’s consistent enforcement strategy that antagonized many in the crypto sphere, O’Leary recognized his unwavering stance as a regulator. Anticipating a shift towards greater regulatory clarity with Atkins at the helm, O’Leary foresees significant developments through initiatives like the market infrastructure act. He optimistically predicts a massive influx of around a trillion dollars into cryptocurrencies once proper regulations are in place – setting the stage for widespread adoption and investment indexing in bitcoin.
“The minute that happens, it will signal the move to the next act, the market infrastructure act,” O’Leary said. “And when that is determined and regulated, Katy, bar the doors — a trillion dollars will come in and index [bitcoin].”
