{"id":21260,"date":"2023-02-21T18:18:24","date_gmt":"2023-02-22T02:18:24","guid":{"rendered":"https:\/\/coinnetworknews.com\/kevin-oleary-warns-us-crypto-regulation-getting-very-aggressive-youve-got-to-stay-out-of-the-way-of-sec-regulation-bitcoin-news\/"},"modified":"2023-02-21T18:18:24","modified_gmt":"2023-02-22T02:18:24","slug":"kevin-oleary-warns-us-crypto-regulation-getting-very-aggressive-youve-got-to-stay-out-of-the-way-of-sec-regulation-bitcoin-news","status":"publish","type":"post","link":"https:\/\/coinnetworknews.com\/kevin-oleary-warns-us-crypto-regulation-getting-very-aggressive-youve-got-to-stay-out-of-the-way-of-sec-regulation-bitcoin-news\/","title":{"rendered":"Kevin O’Leary Warns US Crypto Regulation Getting ‘Very Aggressive’ \u2014 ‘You’ve Got to Stay out of the Way of SEC’ \u2013 Regulation Bitcoin News"},"content":{"rendered":"
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Shark Tank star Kevin O\u2019Leary, aka Mr. Wonderful, has warned that U.S. crypto regulation is \u201cgetting very, very aggressive.\u201d Noting that regulators are now \u201cregulating by enforcement, penalties, and massive fines,\u201d O\u2019Leary emphasized the importance of staying out of the way of the SEC, Chair Gary Gensler, and other regulators.<\/strong><\/p>\n

Kevin O\u2019Leary Shares Outlook for Crypto Regulation<\/h2>\n

Shark Tank star Kevin O\u2019Leary has shared his outlook for the crypto industry following several enforcement actions by the U.S. Securities and Exchange Commission (SEC). Mr. Wonderful tweeted Monday:<\/p>\n

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Venture funding for new crypto projects is virtually dead and aftermarket trading for existing projects is at massive discounts. Reason? The regulator is now regulating by enforcement, penalties, and massive fines.<\/p>\n<\/blockquote>\n

\u201cThe venture community has moved on to the next \u2018big\u2019 thing, AI,\u201d he added.<\/p>\n

O\u2019Leary explained in an interview with Trader TV Live, published Sunday, that following the collapse of cryptocurrency exchange FTX, U.S. lawmakers are \u201cpissed\u201d about having to regularly meet to deal with the failures of crypto companies. Senators are \u201cfatigued\u201d and \u201creally tired of gathering every six months when the next crypto company blows up and goes to zero,\u201d the Shark Tank star described. He believes this is one of the reasons SEC Chairman Gary Gensler recently came down<\/a> \u201cheavy-handed\u201d on crypto exchange Kraken<\/a> over its staking program.<\/p>\n

Emphasizing the SEC\u2019s enforcement-centric approach to regulating the crypto industry, O\u2019Leary cautioned:<\/p>\n

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That kind of environment is getting very, very aggressive and the regulators are being applauded on by the senators and congressmen and women who are saying \u2018What is this? We\u2019ve had enough of this stuff.\u2019<\/p>\n<\/blockquote>\n

O\u2019Leary warned that unregulated cryptocurrency exchanges will be put out of business or go to zero by the regulators over the next few years. He stressed:<\/p>\n

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You got to get on board with regulation. You\u2019ve got to stay out of the way of Gensler and the SEC, and other regulators.<\/p>\n<\/blockquote>\n

\u201cThose hombres in Washington are not happy \u2026 FTX poked the bear. The bear\u2019s awake and it\u2019s pissed,\u201d O\u2019Leary concluded.<\/p>\n

The Shark Tank star said earlier this month that most crypto tokens are worthless, emphasizing that they will \u201ceventually just go to zero<\/a>.\u201d O\u2019Leary was recently slammed by the crypto community for his continued support<\/a> of the disgraced FTX co-founder Sam Bankman-Fried (SBF). Mr. Wonderful was paid $15 million<\/a> to become a spokesperson for FTX.<\/p>\n

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kevin o’leary<\/a>, kevin o’leary bitcoin<\/a>, kevin o’leary crypto<\/a>, kevin o’leary cryptocurrency<\/a>, kevin o’leary FTX<\/a>, kevin o’leary sec<\/a>, Kevin O\u2019Leary crypto regulation<\/a>, Kevin O\u2019Leary cryptocurrency regulation<\/a>, Kevin O\u2019Leary Gary Gensler<\/a>, mr wonderful<\/a>, Shark Tank<\/a><\/div>\n<\/div>\n

Do you agree with Kevin O\u2019Leary? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nKevin Helms <\/h6>\n

\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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