Tuesday, January 18, 2022

Kevin O’Leary on SEC v Ripple Lawsuit Over XRP: ‘I Have Zero Interest in Investing in Litigation Against SEC’ – Regulation Bitcoin News

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Shark Tank star Kevin O’Leary, aka Mr. Wonderful, says he has zero curiosity in investing in something with litigation from the U.S. Securities and Exchange Commission (SEC). “That is a very bad idea,” he stated. Discussing the SEC lawsuit in opposition to Ripple over XRP, he emphasised: “I have no interest in being a crypto cowboy … I have to be compliant.”

Kevin O’Leary Says He Must Not Upset Regulators

Shark Tank star Kevin O’Leary, the chairman of O’shares ETF, talked about cryptocurrency, bitcoin, XRP, Ripple’s lawsuit, and crypto regulation in an interview with CNBC printed Friday.

He defined that he prefers to seek the advice of with regulators concerning cryptocurrency in order to search out out “what’s possible and what isn’t.”

Commenting on the lawsuit introduced by the U.S. Securities and Exchange Commission (SEC) in opposition to Ripple over the sale of XRP, O’Leary burdened:

I’ve zero curiosity in investing in litigation in opposition to the SEC. That is a really dangerous concept.

The SEC sued Ripple, its CEO Brad Garlinghouse, and co-founder Chris Larsen over the sale of $1.3 billion value of the XRP tokens, claiming that it was an unregistered securities providing. Ripple and its executives have argued that XRP will not be a safety.

Garlinghouse lately stated that he expects the lawsuit to come back to a conclusion subsequent 12 months, noting, “We are seeing pretty good progress.” Even the CEO of the Nasdaq-listed crypto trade Coinbase, Brian Armstrong, believes that the lawsuit is going higher than anticipated.

However, O’Leary stated that he prefers to adjust to regulators “because that’s where the real capital is.” He emphasised:

I’ve no curiosity in being a crypto cowboy and getting anyone sad with me as a result of … I’ve so many property in the true world that I’ve invested in already that I’ve to be compliant.

Mr. Wonderful can also be not eager on meme cryptocurrencies. He stated in July that he is not going to make investments in the favored meme crypto dogecoin (DOGE), noting, “I don’t understand why anybody would.”

Nonetheless, cryptocurrency now accounts for about 10% of his portfolio. His crypto publicity exceeded his gold publicity for the primary time in early October. In September, the Shark Tank star stated he count on a trillion {dollars} extra flowing into bitcoin.

What do you concentrate on Kevin O’Leary’s feedback? Let us know in the feedback part beneath.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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