NEW YORK—Kevin O’Leary, one of the stars of TV’s Shark Tank who is better known as “Mr. Wonderful” and who is also chairman of O’Shares Investment Advisers, is predicting that blockchain and cryptocurrency will one day represent the 12th sector of the S&P 500.
Moreover, O’Leary said he is "very confident" sensible government crypto regulation will happen before mass adoption.
“The pace and acceleration of policy proposals coming out of bipartisan Senate committees and the Hill has never been greater,” O’Leary told Yahoo Finance. “We've got the Lummis bill. We have the Haggerty bill for stablecoin, the Toomey bill for stablecoin. We have the POTUS executive order, all within six weeks of each other, all discussing the future of cryptocurrencies.”
As Yahoo Finance noted and as CUToday.info has reported, cryptocurrency regulation has varied internationally, ranging from outright bans to early cases of bitcoin becoming a country's national currency — as El Salvador announced in 2021. Fifteen countries currently ban bitcoin and other cryptocurrencies and deem them illegal in any shape or form, according to data from Cryptimi.
On the opposite end, Canada allows bitcoin ETFs, ethereum ETFs and has licensed a cross-country cryptocurrency dealer.
“There's so much innovation going on in different geographies with regulators at different stages of releasing policy on this, that we have fallen behind in the U.S.,” O’Leary said.
SEC Considering Guidelines
Yahoo Finance pointed out that the U.S. Securities and Exchange Commission has yet to introduce regulation for crypto exchanges, but SEC Chair Gary Gensler has said he is hopeful to formalize guidelines this year.
Meanwhile, the Federal Reserve published a research and analysis white paper which called attention to the price volatility, limitations on transaction throughput and energy footprint of cryptocurrencies, suggesting the Fed may favor a Central Bank Digital Currency or stablecoin, Yahoo Finance added.
Yes, FOMO is Very Real in this Case!
Don’t forget to check your Spam/Junk email folder if you haven’t been receiving your free, popular and daily CUToday.info news headlines.
And if you haven’t yet signed up for the new email solution on which CUToday.info has partnered with ResponseGenius, you can do so here. Signing up requires less than one minute of your time.
CUToday.info has received very positive response from readers following the move to an improved provider of the daily headlines, but many also noted they did need to go to their Spam/Junk folder and mark it as safe.
The new email solution has not only improved every reader’s delivery experience, but it also features a fresh, new format that is easy to read, especially on mobile devices.
Please note and/or make your IT department or email administrator aware the emails will be coming from the domains CUTodayinfo.com and CUTodayinfoReply.com