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Shark Tank's Kevin O'Leary talks crypto and why he's pro stablecoins


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Positivity     51.00%   
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The New York Times
SOURCE: https://techcrunch.com/2022/05/09/shark-tanks-kevin-oleary-talks-crypto-and-why-hes-pro-stablecoins/
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Summary

What are we going to see in the coming months with regard to regulation?O’Leary: There’s a lot of excitement about the bipartisan bills that are going through the Hill right now.Let’s just take inventory — we’ve got the [Senator] Cynthia Lummis bill that’s the granddaddy bill, it’s over 600 pages and contemplates all aspects of crypto.Then we have [Senator Pat] Toomey and [Senator Bill] Haggerty’s bill that just focused on stablecoins, and so they’re much shorter bills more likely to pass first, which is why there’s so much excitement at this conference, because stablecoins represent a payment system that could make the U.S. dollar the digital currency globally.People would probably do that before they took on any other currency; the problem is, there’s no policy, and although there are so many institutions showing up here, none of them own any bitcoin. They own no crypto whatsoever, because it’s not a regulated security yet.So think about this: At the end of the day, if policy comes through, there is going to be a huge number of index products within institutions, and that [could] get bitcoin moving again.

As said here by Jacquelyn Melinek